NBD posted EGP 581 million loss in 2011

Banks
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National Bank for Development (NBD) posted a raise in net loss by 16.7%, reaching EGP 581.4 million in 2011, compared with EGP 698 million in the former year. NBD’s consolidated loss increased to reach EGP 590.5 million in 2011, compared with EGP 501.1 million.Unconsolidated results showed an increase in loan and credit facilities portfolio by 5.9% in 2011, reaching EGP 4.4 billion, compared with EGP 4.2 billion in 2010. Besides, value of deposits increased by 10.8%, reaching EGP 12 billion, compared with EGP 10.8 billion.

Rana Mamdouh

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