NBE non-performing debts portfolio hits $792mn end-October

National Bank of Egypt’s (NBE) non-performing debts portfolio reached 6.2 billion Egyptian pounds (US$791.8 million) at the end of October 2015, Yehia Aboul Fotouh -executive board member- stated Thursday.

The bank targets decreasing its non-performing debts portfolio to 5.5 billion pounds at the end of fiscal year 2015-16, Aboul Fotouh said.

He added that NBE aims at achieving 20 percent growth in profits within fiscal year 2015-16.

The profits on National Bank of Egypt have exceeded 4 billion pounds in fiscal year 2014-15.