Egypt’s EBE reports EGP6.8bln foreign trade operations in H1

Egypt’s Export Development Bank’s foreign has posted foreign trade operations of 6.8 billion Egyptian pounds in the first half of 2019 compared to 5 billion pounds a year earlier, including letters of guarantee, letters of credit, and certified check.

The total letters of guarantee have recorded 1.8 pounds by the end of 2019 in comparison to 1.2 billion pounds in the correspondent period 2018, according to  the bank’s financial results.

While the total letters of credits related to exports registered 129 million Egyptian pounds by the end of June 2019 compared to 365.9 million pounds in June 2018.

On the other hand, the bank has achieved a net profit of 1.1 billion pounds at the end of last financial year, compared to 790.3 million pounds in the correspondent period a year earlier.