The National Bank of Egypt (NBE) has achieved a net profit of EGP 5.8bn during the first half of fiscal year (FY) 2015/2016. The bank’s total profits registered EGP 8.9bn, a growth rate of 83%, reports Daily News.
In a press release on Wednesday, the NBE said these profits were supported by an increase in its net income from yield by 60% to reach EGP 10.6bn, as well as an increase of 66% in net fees and commissions reaching as high as EGP 2.1bn in December 2015.
The bulletin stated that the total equity at the bank amounted to EGP 33.5bn. The financial position also increased by EGP 79.8bn to reach EGP 599.4bn, compared to EGP 519.6bn in June 2015.