Cairo – Mubasher: Al Ahli Bank of Kuwait - Egypt (ABK-Egypt) reported a 22% year-on-year (YoY) growth in its net profits to EGP 140 million during the first quarter of 2020.

The lender’s net operating profit amounted to EGP 316 million in the January-March period, a 50% increase from EGP 212 million in the year-ago period, according to a statement on Monday.

The bank’s gross customer deposits and loans rose by 2% YoY to EGP 28.7 billion and EGP 19.9 billion in Q1-20, respectively.

Despite the ecnonomic disruption caused by the coronavirus (COVID-19) outbreak, “ABK-Egypt has achieved a robust start to 2020, and continues to grow on all key parameters,” CEO and managing director of ABK-Egypt, Khaled El Salawy, said.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.