Egyptian Gulf Bank profit declines by EGP 100 m

Egyptian Gulf Bank (EGB)’s profit declined by EGP 100 million, reaching EGP 52.8 million in 2010, compared with EGP 151.4 million in 2010.

Total value of loans retreated by EGP 1.1 billion, reaching EGP 3.7 billion by the end of December 2011, compared with EGP 4.8 billion by the end of December 2010. EGB’s reserves reached EGP 79.5 million, compared with EGP 128.8 in 2010.

However, interest revenues increased reaching EGP 452.1 million, compared with EGP 431.6 million. Expenditures jumped as it reached EGP 244.3 million, compared with EGP 231.9 million.