NBK-Egypt profits down 14% in H1 of 2017

CAIRO – 21 July 2017: National Bank of Kuwait (NBK) Egypt achieved profits of LE 727 million ($ 40.64 million) in the first half of 2017, down 14.4 percent from LE 849 million ($ 47.46 million) in the same period in 2016, a report on Thursday said.

Interest revenues hiked 57.7 percent to LE 2.62 billion in the first six months of 2017 from LE 1.66 billion in the same period of 2016.

Deferred profits rose 72.6 percent to 1.4 billion from LE 831 million in the first half of 2016, the statement said.