Cairo – Mubasher: The financial indicators of Egyptian Gulf Bank (EG Bank) showed a 6% year-on-year rise in consolidated profits for the first half of 2018.
After-tax profits amounted to EGP 261.9 million in the six-month period ended June, up from EGP 256.2 million in H1-17, the bank said in a filing to the Egyptian Exchange (EGX) on Wednesday.
Revenues from interest rose to EGP 3.7 billion in H1-18, from EGP 2.9 billion in the comparative period of 2017, the Egypt-based lender noted.
Moreover, standalone profits increased to EGP 283.6 million in the period between January and June, from EGP 260.6 million in the prior-year period.
The financial indicators of EG Bank previously showed a 7% year-on-year increase in consolidated profits for Q1-18, recording EGP 146.3 million from EGP 136.9 million.
The EGX-listed bank had posted consolidated profits of EGP 517.33 million for the full-year 2017, compared to EGP 382.02 million a year earlier, including minority shareholders’ rights.
