Cairo – Mubasher: Export Development Bank of Egypt (EBE) said Sunday that it is seeking a growth of 25.4% in profits for fiscal year 2017/2018 to EGP 653.96 million, compared to an estimated profit of EGP 521.2 million for FY16/17.
The bank targets a rise of 26% in its assets in FY17/18 to EGP 41.8 billion, versus EGP 33.2 billion in FY16/17, according to a statement to the bourse.
Furthermore, EBE plans to open eight new branches in FY17/18, raising the number of its branches to 37.
On another note, the bank’s board of directors approved to submit a proposal to the extraordinary general meeting (EGM) to raise the authorised capital from EGP 2 billion to EGP 5 billion.
