Arab Banking Corporation Egypt’s 9-Month Net Profit Surges 15.7%

The Arab Banking Corporation Egypt raised its net profit during the first nine months of 2012 by 15.7% (EGP 4.4 million) to reach EGP 33 million, up from EGP 28.5 million.

The bank’s investments in T-bills dropped by 41.5% (EGP 813.6 million), registering EGP 1.14 billion at the end of last September, compared to EGP 1.95 billion at the end of 2011.

The bank’s financial statements showed that the portfolio of loans and credit facilities to customers surged by 41.2% (EGP 569.7 million), registering EGP 1.95 billion at the end of last September, compared to EGP 1.38 billion at the end of last year.

The bank’s deposit portfolio reached EGP 4.49 billion at the end of last September, compared to EGP 3.88 billion at the end of 2011, registering an increase of 15.7% (EGP 613.1 million).