National Bank of Kuwait first-half profits fall 28.6% in Egypt

National Bank of Kuwait–Egypt (NBK), the Gulf Arab state’s largest commercial lender, reported a 28.6 percent year-on-year decline in its net profits during the first half of this year.

Net profits recorded 753.48 million Egyptian pounds ($47.1 million), down from 1.05 billion during the first half of 2019.

Interest income from loans and revenues registered 3.064 billion during the six-month period ended on 30 June against 3.98 billion pounds during the same period last year, according to a bourse filling on Tuesday.

During the second quarter of the current year, net profits dropped to 350.72 million pounds versus 544.6 million pounds during the same period in 2019.