EGBANK’s NPLs portfolio grows 3.68% in H1 2019

Egyptian Gulf Bank (EGBANK) non performing loans (NPL) portfolio has captured 3.86 percent of the total credit portfolio during the first half of 2019 compared to 2.07 percent in December 2018.

According to the bank’s recent financial results the NPLs include doubtful loans, Substandard loans, and bad loans.

The non performing loans among the personal loans and facilities have posted 87 million Egyptian pounds, while NPLs among corporate loans and facilities amounted to 897 million pounds.

Net portfolio of loans, facilities and Murabaha fell to register 24.383 billion pounds by the end of the first half of this year, compared to 26.081 billion pounds in December.

Customer deposits grew 9.5 percent to 55.3 billion pounds up from  50.5 billion pounds.The Egyptian Gulf Bank’s assets increased by 2.8 percent to  63.4 billion pounds at the end of the first half of 2019.

It is worth mentioning that the Egyptian Gulf Bank achieved a net profit during the period of 311.5 million pounds, compared to 283.7 million pounds in the first half of the previous year compared to a growth of 9.8 pounds.