NBK-Egypt posts $64m net profit, up 53pc

National Bank of Kuwait-Egypt, the subsidiary of National Bank of Kuwait Group (NBK) in Egypt, has reported a net profit of EGP575.6 million ($64.5 million) for last year compared to EGP375.5 million in 2014, an increase of 53.3 per cent year-on-year.

The bank's total assets increased 35.7 per cent to EGP37.6 billion, while its customers’ deposits grew 36.3 per cent to EGP30.4 billion.

Isam Al Sager, NBK Group chief executive officer and NBK-Egypt chairman, said: “These strong results confirm NBK-Egypt’s progress in strengthening its position in the Egyptian market.