Export Development Bank Posts EGP 35.267 Mln Net Profit In Q1

The Export Development Bank of Egypt (EDBE) achieved net profit of EGP 35.267 million at the end of last September, compared to EGP 1.08 million at the end of the compared period, registering a noticeable increase of 3160%.

The bank’s deposits portfolio surged by 0.04% in Q1 of FY 2012/2013, registering EGP 10.628 billion at the end of September, compared to 10.624 billion at the end of FY 2011/2012.

The bank’s net loans fell by 4.95%, registering EGP 5.976 billion at the end of September, compared to EGP 6.288 billion at the end of the last fiscal year.

The bank’s ownership equity reached EGP 1.89 billion and assets reached EGP 12.41 billion at the end of last September.

The bank’s consolidated financial statements showed an increase of 497% in net profit as it registered EGP 47.572 million at the end of Q1, compared to EGP 7.968 million at the end of the compared period.