HSBC’s Net Profit Rose EGP 116.1 Mln In H1

HSBC Bank Egypt achieved net profit of EGP 701.9 million at the end of June 2012, up from EGP 585.7 million at the end of June 2011, with an increase of 116.1 million.

The bank’s balances and money held by the Central Bank of Egypt (CBE) retreated by EGP 639 million, registering EGP 4.109 billion at the end of June 2012, compared to EGP 4.748 billion at the end of 2011. The bank’s balances held by other banks registered EGP 9.178 billion at the end of the first half of 2012, up from EGP 6.727 billion at the end of last year.

The bank’s portfolio of loans and credit facilities surged by EGP 987.4 million, registering EGP 20.427 billion at the end of June 2012, compared to EGP 19.440 at the end of 2011. The customers’ deposits registered EGP 44.290 billion at the end of June 2012, up from EGP 42.195 billion at the end of 2011.

The bank’s investments in treasury bills registered EGP 9.894 billion at the end of the first half of 2012, down from EGP 10.835 billion at the end of 2011.