Emirates NBD Egypt hits 13 pct rise in net profits in 2017

CAIRO – 21 November 2017: Net profits of Emirates NBD Egypt hit a 13-percent rise during the first nine months of the current year recording LE 847.5 million ($47.9 million), the bank said on Thursday in a statement.

Revenues increased by 41 percent registering LE 2.4 million, the statement added.

The rise in revenues came from the improvement in interest margin and loan growth.

Emirates NBD Egypt is a wholly owned subsidiary of Emirates NBD, a leading banking group in the region.

The bank currently has 2,200 employees and 66 branches, and the Bank's subsidiary in Egypt is the largest outside the UAE.

Emirates NBD Group also has branches in Saudi Arabia, Singapore, UK and representative offices in India, China and Indonesia.