National Bank of Kuwait-Egypt 9-month profits rise 75.5%

The National Bank of Kuwait-Egypt made 1.160 billion Egyptian pounds ($65.8 million) in profits in the first nine months of 2017 from 659.697 million pounds last year.

The Egyptian arm of Kuwait’s largest commercial lender also reported a rise in customer deposits, recording 40.361 billion pounds at the end of September compared to 38.100 billion pounds in the same period last year.

Customer loans and facilities fell to 24.809 billion pounds from 24.963 billion pounds last year, the bank added in a statement.

Total assets grew to 55.719 billion pounds at the end of September 2017 from 54.022 billion pounds for the same period last year.