Emirates NBD six-month net profit rose 41% in Egypt

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Emirates NBD reported Saturday a 41 percent rise in net profit in Egypt during the first half of the year, to record 496 million Egyptian pounds ($55.8 million). The rise was due to an increase in the amount of the bank’s investments in treasury bills.

The business results also showed that the bank also registered a 31 percent growth in total income during the first half to reach 1.1 billion pounds. Net interest income also rose to 837 million pounds. Net commission income went 2 percent higher to 197 million pounds.

Assets grow 11 percent to 35.8 billion pounds, loans up 29 percent to 13.3 billion pounds, and deposits went 9 percent higher to 27.3 billion pounds, the statement showed.