Blom Bank Egypt Reports EGP 26 Mln Profit In Q1 2013

Blom Bank Egypt achieved profit of EGP 26 million in the first quarter of 2013, compared to EGP 4.9 million in the first quarter of 2013, registering an increase of EGP 21.1 million. While the bank’s net profit reached EGP 81 million at the end of 2012.

The bank’s deposit portfolio slightly rose to EGP 8.65 billion at the end of last March, compared to EGP 8.3 billion at the end of last December, registering an increase of 4.6% (EGP 380 million).

The bank’s loans and credit facilities surged to EGP 2.87billion at the end of last March, compared to EGP 2.81 billion at the end of last December, registering an increase of 2.1%.

Moreover, the bank’s investments in treasury bills and bonds and other government securities fell to EGP 1.78 billion at the end of the first quarter of 2013, compared to EGP 1.79 billion at the end of 2012, registering a decline of 0.5% (EGP 100 million).

The bank’s investments in 91-day T-bills reached EGP 2.5 million at the end of the first quarter of 2013, compared to EGP 100 million at the end of last December, while its investments in 182-day T-bills rose to EGP 61.3 million at the end of last March, compared to EGP 56 million at the end of last year.

In addition, the lender’s investments in 273-day T-bills hiked to EGP 299.4 million at the end of last March, compared to EGP 262 million at the end of 2012, while its investments in 364-day T-bills reached EGP 1.52 billion at the end of the first quarter of 2013, compared to EGP 1.46 billion at the end of 2012.

The value of the bank’s assets rose to EGP 10.5 billion at the end of last March, compared to EGP 10.21 billion at the end of 2012, registering an increase of 2.6%.