NBK Egypt reports net profit worth 1.5 bln pounds in 2017

National Bank of Kuwait–Egypt (NBK), the Gulf Arab state’s largest commercial lender, announced Thursday a 77 percent increase in its  profits during 2017 to register 1.5 billion Egyptian pounds ($84.8 million) compared to 849 million pounds a year earlier.

Profits stood at 849 million pounds a year earlier. In  addition, the net income from returns has recorded 2.4 billion pounds.

The value of loans and credit facilities has increased by 36 percent recording 33.9 billion pounds by the end of 2017 compared to 24.86 billion pound by the end of 2016.

Moreover, the total customer deposits during this period increased by 7 percent reaching 40.8 billion pounds, compared to 38.1 billion Pounds for the same period last year.

It is noteworthy to mention that NBK – Egypt is a member of the National Bank of Kuwait Group. It was established in Egypt in 1980 under the name of the National Bank of Egypt. It has a network of banking branches spread in the most vital locations in the various governorates and cities of Egypt, including Cairo, Giza, Alexandria, Delta, Sinai, the Red Sea and Upper Egypt, as well as industrial areas such as: the cities of the Sixth of October and the tenth of Ramadan.