Net Profit
The company allocated an initial LE 250 million in investments to its new venture.
Total revenues in nine months recorded LE 2.6 billion, up from LE 2.5 billion in the same period in 2016.
Revenues hiked to LE 5.62 billion from LE 3.93 billion in the same period last year.
The second largest real estate developer in Egypt said it was hardly hit by increases in financial costs.
The company’s sales registered LE 3.1 billion between July and September, compared to LE 1.5 billion in the corresponding period last year.
The bank’s profit dropped by 47.3 percent in the first nine months of 2017.
CBQ reported a 58.4 percent slump in second-quarter net profit, missing analysts' forecasts, as provisions for bad loans jumped.
El Sewedy Electric Company's first-quarter net profit climbed to LE 1.5 billion ($82.9 million).
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