National Bank of Egypt (NBE) has posted net profits after tax of 20.2 billion Egyptian pounds in the last fiscal year (FY) ending in June 2019.

The NBE’s net profit marks a 100% growth rate compared to 10.1 billion pounds reported in FY 2017/18.

The bank’s total finances increased to 1.6 trillion pounds in June 2019, compared to 1.5trn  June 2pounds in018.

Equity amounted to about 11 billion pounds in 2019, compared to 92.2 billion pounds in the year before.

NBE Chairperson Hisham Okasha said these indicators reflect the distinguished results of the bank’s work.

He added that the bank’s loan portfolio reached 637 billion pounds by the end of March 2020, compared to 545 billion pounds in June 2019. This marks an increase of nearly 100 billion pounds with a market share of over 30 percent