NBK Egypt reports profit increase of 8.3 % 2019

National Bank of Kuwait – Egypt (NBK Egypt) reported an 8.3 percent year-on-year profit increase during 2019.

The lender’s net profits amounted to  2.168 billion pounds  last year from 2.002 billion pounds in 2018.

The bank’s customers deposits decreased by 51.5 billion pounds at the end of 2019, compared to 53.1 billion pounds at the end of 2018.

Net interest income rose to 3.09 billion  pounds in 2019, compared to 2.77 billion pounds  in the previous year.

According to its  financial statement the bank’s loan and facilities portfolio declined to record 31.5 billion pounds at the end of 2019, compared to 38.6 billion pounds at the end of 2018.

In addition, the bank’s board of directors recommended a cash dividend distribution of 1.25 pounds per share for 2019’s earnings.