NBE To Approve FY 2011/2012 Budget Next Sunday
The National Bank of Egypt (NBE) will hold its general assembly meeting next Sunday to approve the bank’s budget for the FY 2011/2012 that ended on June 30th, 2012.
According to the latest data released by the Central Bank of Egypt (CBE), NBE’s profit reached about EGP 2.815 billion, net assets surged to EGP 321 billion and shareholders’ equity reached EGP 14 billion at the end of FY 2011/2012.
The bank’s deposit portfolio rose to EGP 279 billion, branches to 380 branches and ATMs to 1260 machines.
The unaudited profit for the first six months of the current fiscal year is estimated at EGP 1.7 billion and is slated to be reviewed by the Central Auditing Organization in the upcoming period.
NBE raised its capital by EGP 6.997 billion over a year on two times to reach EGP 9.247 billion from EGP 2.250 billion through injecting reserves of EGP 4.750 billion and a loan of EGP 2.247 billion from the Ministry of Finance.
