14 August 2008
KUWAIT CITY : Egypt's Commercial International Bank (CIB) earned KD 46.6 million (EGP 938) as net profit for the first half ending June 30, 2008 with earnings of 23.48 fils per share compared to a profit of KD 32 million (EGP 635) for the same period of 2007. The board of directors of CIB met on Tuesday Aug 12, 2008 approved and adopted the financial statements for the periods ending June 30, 2008. The net profit includes unrealized profit valued at EGP 423,363,317 equivalent to KD 20,968,880, unrealized revenue worth KD 1,754,561 and outstanding expenses amounting to KD 525,330. For the three months ending June 30, 2008 CIB earned a profit of KD 25.6 million compared to KD 19.3 million earned during the same period of 2007 with the earnings per share valued at 116 fils and 88 respectively. Board of Directors of CIB accepted the resignation submitted by Ms. Sahar Mohamed Ali Al-Sallab from the post of Vice Chairman of the Board and Managing Director with effect from Sept 30, 2008.
Egypt Kuwait Holding net profit rose 22 percent in the first half of 2008 to $59.88 million, the stock exchange said on Wednesday. Shares in Egypt Kuwait Holding, the investment arm of the Kuwaiti Al Kharafi group in Egypt, last traded 5.6 percent lower at $2.35 on Wednesday amid a broader market selloff.
KUWAIT CITY : Egypt's Commercial International Bank (CIB) earned KD 46.6 million (EGP 938) as net profit for the first half ending June 30, 2008 with earnings of 23.48 fils per share compared to a profit of KD 32 million (EGP 635) for the same period of 2007. The board of directors of CIB met on Tuesday Aug 12, 2008 approved and adopted the financial statements for the periods ending June 30, 2008. The net profit includes unrealized profit valued at EGP 423,363,317 equivalent to KD 20,968,880, unrealized revenue worth KD 1,754,561 and outstanding expenses amounting to KD 525,330. For the three months ending June 30, 2008 CIB earned a profit of KD 25.6 million compared to KD 19.3 million earned during the same period of 2007 with the earnings per share valued at 116 fils and 88 respectively. Board of Directors of CIB accepted the resignation submitted by Ms. Sahar Mohamed Ali Al-Sallab from the post of Vice Chairman of the Board and Managing Director with effect from Sept 30, 2008.
Egypt Kuwait Holding net profit rose 22 percent in the first half of 2008 to $59.88 million, the stock exchange said on Wednesday. Shares in Egypt Kuwait Holding, the investment arm of the Kuwaiti Al Kharafi group in Egypt, last traded 5.6 percent lower at $2.35 on Wednesday amid a broader market selloff.
© Arab Times 2008
