NBK says H1 net profit rose to $71.2 mln in Egypt

National Bank of Kuwait (NBK) says net profit in Egypt rose to 407.436 million Egyptian pounds ($45.8 million) in the first half of the year.

Earlier, the Kuwaiti bank in Egypt posted a net profit worth 284.029 million pounds in the first half of 2015.

Loan portfolio also surged to 16.240 billion pounds by end do June 2016, from 13.819 billion pounds by end of December 2015. Deposits reached 31.788 billion pounds versus 30.394 billion pounds last year, the bank added in a statement on Wednesday.

NBK-Egypt’s total assets recorded 40.459 billion pounds in the first half of 2016, up from 37.578 billion pounds in the same period last year.