Al Watany Bank Of Egypt Posts EGP 228 Mln Net Profit

Al Watany Bank of Egypt (AWB) witnessed a noticeable increase of 18.9% in net profit during the first nine months of 2012.

The bank achieved net profit of EGP 228.3 million at the end of last September, compared to EGP 191.9 million at the end of the compared period in 2011.

The bank’s separated financial results showed that the bank’s portfolio of loans and credit facilities surged by 4.56%, registering EGP 7.44 billion at the end of last September, compared to EGP 7.11 billion at the end of 2011.

The bank’s deposits portfolio rose by 1.7%, registering EGP 12.54 billion at the end of last September, compared to EGP 12.33 billion at the end of the same period in 2011.

The bank’s investments in treasury bills climbed by 6.2%, registering EGP 3.937 billion at the end of Q3 of 2012, compared to EGP 3.70 billion at the end of Q3 of 2011.