EG Bank’s standalone profit down 7% in 2020

The unaudited standalone financial results of the Egyptian Gulf Bank (EG Bank) showed net profits of 625.23 million Egyptian pounds in 2020, down by 7.4 percent year-on-year (YoY) from 675.34 million pounds.

The lender’s interest income retreated to 7.36 billion pounds last year from 7.5 billion pounds in 2019.

During the first nine months of 2020, EG Bank logged consolidated net profits of 455.26 million pounds, compared to 459.67 million pounds in the same period in 2019.

In addition, the standalone financial results showed net profits of 466.17 million pounds, down from 478.44 million pounds in the January-September period of 2019.