Piraeus Bank Egypt obtains $10 mln net income in 2015 H1

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Piraeus Bank Egypt has achieved net income worth EGP80 million (US$10.2 million)  within the first half of 2015 marking 502% increase, Chief Executive and Managing Director Naira Amin said Thursday.

The bank has incurred losses estimated at 19.9 million Egyptian pounds within the first half of 2015, Amin stated.

Bank’s total revenues have reached EGP 121.5 million at the end of June 2015 compared to EGP 89.4 million at the end of June 2014 marking 36% increase, the official clarified.

She further added that the total assets of Piraeus Bank Egypt hit 9.8 billion Egyptian pounds at the end of June 2015 opposed to 8.6 billion Egyptian pounds at the same period of 2014 registering 14% increase.

Moreover, Amin said that the total volume of bank’s loans has recorded EGP 5.6 billion versus EGP 5.4 billion making 3% increase, while the total volume of deposits has increased from 7.5 billion Egyptian pounds to 8.6 billion Egyptian pounds marking 15% increase.

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