Cairo – Mubasher: The consolidated financial indicators of Export Development Bank of Egypt (EBE) on Monday showed a 66% year-on-year surge in profits for the first quarter of fiscal year 2017/2018.
Profits stood at EGP 199.5 million in the three-month ended September 2017, up from EGP 120.4 million in the prior-year period, the bank highlighted in a filing to the Egyptian Exchange (EGX).
The bank’s interest revenues increased to EGP 1.01 billion in Q1 of FY17/18, compared to EGP 618.8 million in the corresponding period last year.
Moreover, standalone profits levelled up 65% to EGP 172.2 million in Q1 of FY17/18 from EGP 103.9 million in the year-ago period.
It is worth mentioning that the EBE’s profits reached EGP 540.04 million in FY16/17 from EGP 354.39 million in FY15/16.
