Cairo - Mubasher: Pharos Research has maintained the fair value (FV) of Egyptian Gulf Bank (EG Bank) at EGP 0.66.
The decline in the EGP exchange rate should be taken into account when considering the devaluation of EG Bank’s stock, Pharos said.
EG Bank’s consolidated financial statements showed a slight increase in net profit during the first quarter of 2019, recording EGP 147.18 million.
