NBE” net profits to surpass EGP 4bn This Year”

ALAHLY22

The National Bank of Egypt (NBE) aims to raise its net profits during the current fiscal year ending by June 2015, to surpass EGP 4bn, compared to EGP 3.7bn last year, said Mahmoud Montasser, Vice-Chairman of the Bank.

Montasser told “Cash News Agency” that NBE reported a net profit of EGP 2.3bn during the first half of the current fiscal year.

He also noted that NBE has a great interest for the time being to increase the size of the funds assigned to national strategic projects, especially in the light of offering a number of major projects at the latest Egyptian Economic Conference.

“direct communication with a large number of investors is ongoing, those who have expressed their desire at the Economic Conference to implement a number of projects, and the bank will provide  some of these projects by fund this year, especially the implementation of coal-fired power station”, Montasser added.

CNA- Translated by – Hoda Mamdouh

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