Egypt’s Export Development Bank net profits up 11% in 9M

Egypt’s Export Development Bank (EDBE)’s net profit climbed by 11.18 percent  year-on-year (YoY) to  978.29 million Egyptian pounds during the first nine months of fiscal year (FY) 2019/2020.

The  bank’s net profits has recorded 879.9 million pounds a year earlier.

The bank’s consolidated financial results showed a rise in the net interest income to 1.57 billion pounds in the July-March period from 1.33 million pounds  in the corresponding period of the previous year.

Meanwhile, the bank’s standalone financial statements showed a decline in net profits to 855.48 million pounds in the first nine months of FY19/20, down from 840.59 million pounds in the year-ago period.