Egypt’s NBE leaves board membership in Sharm Dreams

MoneyBanksFeature
By Sama Mousa
National Bank of Egypt
The National Bank of Egypt (NBE) is the country's largest bank in terms of assets, deposits, loans, bank-capital, number of total branches, and employees.

The National Bank of Egypt (NBE) stepped down from its role as a board member in Sharm Dreams Company for Touristic Investment on Sunday.

According to a recent bourse filing, the EGX-listed company is set to submit the resignation to the ordinary general meeting (OGM).

Sharm Dreams suffered from net losses during the first nine months of 2022 valued at 64.61 million Egyptian pounds, with an increase from 28.16 million pounds.

The revenues went up from 24.40 million pounds in the first nine months of 2021, to 28.50 million pounds in the first nine months of 2022. The loss per share increased from 0.53 pounds to reach 1.22 pounds .

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