Wed, 17 Feb 2021 - 10:57 GMT
National Bank of Kuwait branch - Wikimedia commons
CAIRO – 17 February 2021: National Bank of Kuwait – Egypt recorded a decline in its profits during 2020 by 33.2 percent on an annual basis, to hit LE 1.44 billion, down from LE 2.16 billion in 2019.
The bank’s revenues declined during 2020, to reach LE 3.26 billion at the end of December, compared to LE 3.76 billion during 2019.
During the first nine months of 2020, the bank achieved profits of LE 1.09 billion, compared to profits of LE 1.66 billion in the comparative period last year.
The bank’s net income from the revenue declined during the nine months of 2020 to LE 1.99 billion, compared to LE 2.31 billion in the comparative period in 2019.
NBK operates within the Banks sector focusing on diversified banks. It has been listed on Egyptian Exchange (EGX) since September 1994.