Cairo – Mubasher: National Bank of Kuwait - Egypt (NBK) on Tuesday reported a 72% year-on-year hike in consolidated profits for the third quarter of 2017 due to higher interest income.
Net profit amounted to EGP 433.8 million in the three months ended September, versus EGP 252.2 million in the prior-year period, the bank highlighted in a filing to the Egyptian Exchange (EGX).
Interest income increased to EGP 631.4 million in Q3-17 from EGP 465.2 million in Q3-16.
In the nine months ended September 2017, standalone profits rose 75.9% to EGP 1.16 billion from EGP 659.6 million in the year-ago period.
Standalone profits stood at EGP 397.13 million in the three months ended June 2017, compared to EGP 220.8 million in Q2-16.
NBK Egypt closed Monday’s trading session up 2.96% at EGP 31.68.
