Cairo – Mubasher: Egyptian Gulf Bank (EG Bank) reported on Thursday a net profit of EGP 90.3 million for the fourth quarter of the fiscal year 2016, 55% up from EGP 58.3 million for Q4-15.
Net profit after tax for the fiscal year 2016 rose 44% to EGP 401.5 million from EGP 278.12 million for fiscal 2015, according to a statement.
The board of directors recommended cash dividends of EGP 1.804 per share for the year, totalling EGP 519.43 million.
Total deposits reached EGP 40.65 billion in 2016, 97% up from EGP 20.6 billion in 2015.
Interest income leapt in 2016 122% to EGP 3.53 billion, while interest expenses reached EGP 2.21 billion.
