Cairo – Mubasher: National Bank of Kuwait – Egypt (NBK) on Tuesday reported a 50.8% year-on-year hike in profits for the first quarter of 2018, recording EGP 486.89 million from EGP 329.5 million.
Net income increased to EGP 651.4 million in Q1-18, versus EGP 567.2 million in the prior-year period, the lender highlighted in a filing to the Egyptian Exchange (EGX).
The bank had previously posted a 77% year-on-year surge in profits for the full-year 2017, recording a net profit of EGP 1.5 billion from EGP 848.9 million.
NBK Egypt’s capital amounts to EGP 1.5 billion distributed over 150 million shares at a par value of EGP 10 per share.
