Cairo – Mubasher: The financial indicators of National Bank of Kuwait – Egypt (NBK) showed a 36.1% year-on-year growth in profits for the first half of 2018, recording EGP 989 million from EGP 727 million.
The bank attributed the robust H1-18 profits to an EGP 100 million increase in net return, coupled with an EGP 319 million growth in operating profit, according to a filing to the Egyptian Exchange (EGX) on Thursday.
Interest revenues rose by 25.8% to EGP 3.3 billion in H1-18, versus EGP 2.62 million in H1-17.
The lender's total deposits in the bank went up by 16.34% to reach EGP 47.53 billion in the six-month period ended June, compared to EGP 40.85 billion in the year-ago period, while overall loans grew by 11.7%, registering EGP 39.28 billion from EGP 35.18 billion.
NBK previously 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.
