Cairo – Mubasher: Industrial Development and Workers Bank of Egypt on Wednesday posted an 11.33% year-on-year jump in its profits for the first half of 2018.
Profits amounted to EGP 167 million in H1-18, compared to EGP 150 million in H1-17.
The Egyptian bank targets achieving a profit of more than EGP 1 billion by the end of 2018, after selling part of its assets in the coming period.
For the full-year 2017, the bank’s net profits amounted to EGP 500 million.
It is worth noting that the industrial lender plans to open three new branches by the end of 2018.
