Caro – Mubasher: The financial indicators of Egyptian Gulf Bank (EG Bank) showed a 7% year-on-year increase in profits for the first quarter of 2018.
After-tax profits amounted to EGP 146.3 million in the three-month period ended 2018, up from EGP 136.9 million in Q1-17, the bank said in a filing to the Egyptian Exchange (EGX) on Wednesday.
Revenues from interest rose to EGP 1.8 billion in Q1-18, versus EGP 1.3 billion in the comparative period of 2017, the Egypt-based lender noted.
Moreover, standalone profits grew to EGP 136.5 million in Q1-18, from EGP 121.1 million in the prior-year period.
EG Bank had previously 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.
