Barclays Egypt’s Net Profit 126.5% Up In Q1

Barclays Bank-Egypt’s net profit rose 126.5% (EGP 64.3 million) to reach EGP 115.09 million at the end of the first quarter of 2013, compared to EGP 50.7 million at the end of the first quarter of 2012.

Barclays Bank’s financial statements showed that the bank’s investments in treasury bills rose 18.1% (EGP 1.01 billion) to reach EGP 6.6 billion at the end of last March, compared to EGP 5.5 billion at the end of last year.

The bank’s loans and credit facilities reached EGP 6.4 billion at the end of last March, compared to EGP 6.1 billion at the end of 2012, registering an increase of 4.3% (EGP 266.3 million).

The bank’s deposit portfolio fell 0.9% (EGP 143.6 million) to reach EGP 14.3 billion at the end of the first quarter of 2013, compared to EGP 14.5 billion at the end of last year.

The bank’s assets surged 4.4% (EGP 792.2 million) to reach EGP 18.6 billion at the end of last March, compared to EGP 17.8 billion at the end of 2012.