Blom Egypt 9-Month Profit Up 11.5%

Blom Bank Egypt achieved net profit of EGP 53.028 million at the end of last September, compared to EGP 47.504 million at the end of 2011, registering an increase of EGP 5.5 million (11.52%).

The bank’s separated business results showed that the bank’s portfolio of loans and credit facilities surged by EGP 5.7 million (0.21%), registering EGP 2.683 billion at the end of Q3 of 2012, up from EGP 2.689 million at the end of 2011.

The bank’s deposits portfolio rose by 852.1 million (12.66%), registering EGP 7.626 billion at the end of last September, compared to EGP 6.774 billion at the end of last year.

The bank’s balances held by other banks rose by 2.73%, registering EGP 1.638 billion at the end of last September, compared to EGP 1.593 billion at the end of 2011.

The bank’s investments in government debt instruments witnessed a remarkable increase of 40.25%, registering EGP 1.714 billion at the end of Q3 of 2012, compared to EGP 1.223 billion at the end of 2011.