Egypt’s Export Development Bank Soars to 31-Month High Amid Active Trading

Export Development Bank of Egypt – EDBE (EXPA.CA on the Egyptian Exchange)’s stock has climbed above the EGP 7.7 during Thursday’s session amid buoyant trading activity. It rose 3.9% to reach EGP 7.7; its highest price since April 7, 2011.

The EDBE stock’s turnover crossed the EGP 11.26 million barrier, while traded volume hit 58-month high amounted to 1.5 million thousand shares, highest since December 28, 2008.

The lender’s FY2013/2014 consolidated financial results had shown EGP 181.540 million net profit, with a 739% increase from EGP 21.636 million in the same period a year earlier.

Meanwhile, the EDBE’s FY2013/2014 standalone financial results had shown EGP 140.715 million net profit, with a 51% decline from EGP 287.576 million in the same period a year earlier.