Blom Bank Egypt: Net Profits up 66.6% by 2013-end

Blom Bank Egypt S.A.E. announced on Thursday a 66.6% rise (or EGP 54.2 million) in its net profit to EGP 135.6 million by the end of 2013 against EGP 81.4 million a year earlier.

In addition, the bank’s investments in treasury bills and bonds and other government securities surged 12.9% (or EGP 229.8 million)to EGP 2 billion, up from EGP 1.779 billion at December-end of 2012.

The bank’s loans and credit facilities also hiked by 22.9% (or EGP 605.2 million) to EGP 3.241 billion, compared to EGP 2.635 billion by December-end of 2012.

Furthermore, Blom Egypt’s total assets inched up to EGP 11.679 billion by 2013-end, opposed to EGP 10.116 billion by 2012-end.

The bank managed to attract new deposits worth EGP 1.355 billion to move its deposit portfolio up to EGP 9.728 billion at the end of last December, against EGP 8.372 billion at the end of last December 2012.