Cairo – Mubasher: The National Bank of Kuwait – Egypt (NBK) on Thursday posted an 80% year-on-year hike in profits for the second quarter of 2017 on the back of a growth in returns from loans.
The bank’s profits amounted to EGP 397.13 million in the three months ended June 2017 up from EGP 220.8 million in the corresponding period of 2016, according to a bourse filing.
Return from loans reached EGP 1.39 billion in Q2-17, rising from EGP 874.1 million in Q2-16.
In the first half of 2017, NBK Egypt's profits surged 78% to EGP 726.6 million from EGP 407.4 million in H1-16.
The bank previously achieved profits of EGP 329.5 million in Q1-17, versus EGP 186.6 million in Q1-16.
