The National Bank of Egypt (NBE) has achieved a net profit of EGP 5.8bn during the first half of fiscal year (FY) 2015/2016. The bank’s total profits registered EGP 8.9bn, a growth rate of 83%.
In a press release on Wednesday, the NBE said these profits were supported by an increase in its net income from yield by 60% to reach EGP 10.6bn, as well as an increase of 66% in net fees and commissions reaching as high as EGP 2.1bn in December 2015.
The bulletin stated that the total equity at the bank amounted to EGP 33.5bn. The financial position also increased by EGP 79.8bn to reach EGP 599.4bn, compared to EGP 519.6bn in June 2015.
Moreover, the bank’s total loan portfolio increased to EGP 177.3bn in December 2015, growing by 14% from June 2015.
The bank achieved a 16% growth in the loans portfolio of small- and medium-sized enterprises recording EGP 19.2bn in December 2015.
These include loans worth EGP 2.7bn for 37,268 micro-enterprises.
The bank’s retail loans portfolio also grew by 17%, registering EGP 36.9bn in December 2015.
Deposits increased by EGP 47bn during the first half of FY 2015/2016, to reach EGP 494.7bn, versus EGP 447.7bn in June 2015.
The number of the bank’s designated ATMs reached 2,460 in December 2015, an increase of 310 machines from June 2015. Its Points of Sale (POS) also increased by 1,780 to reach 15,261 POS in December 2015.