Cairo – Mubasher: Nasser Social Bank (NSB) reported a 32% year-on-year (YoY) growth in its net profits, logging EGP 1.427 billion in fiscal year 2019/2020, compared to EGP 1.081 billion.
The bank’s budget increased to EGP 22.247 billion in the year ended 30 June, up by 24% from EGP 17.871 billion a year earlier, the Chairman and the Minister of Social Solidarity, Nevine El-Kabbag, said in a statement on Tuesday.
Over the course of the year, NSB’s net funding and customer facilities grew by 29% to EGP 16.118 billion from EGP 12.517 billion in FY18/19.
In addition, the bank’s deposits surged by 37% to EGP 8.755 billion in FY19/20 from EGP 6.371 billion a year earlier.
