NBE opens a new branch in El Tagamu El Khames this month

National Bank of Egypt (NBE) plans to establish a branch in El Tagamu El Khames this month; by this the Bank will have 262 branches spread across Egypt.

Hazem Hegazy, head of retail banking and branches at NBE, said that NBE is targeting to increase its branches to 280 branches this year.

NBE also plans to create a new “durable goods” product in the last quarter of the current fiscal year, Hegazy added.

Noteworthy that NBE achieved a 14% growth rate in net profit before tax in the fiscal year ended in 2010/2011, in value to EGP 4.2 billion. NBE recorded EGP 2.1 billion in net profit in June 2011, the highest in its history.