VOL. XXX

NO. 18

9-FEBRUARY-1987

Financial and Banking News

REGIONAL BANKING

Egyptian State Banks Increase Provisioning

Results recently released for the 1985/86 financial year (ending 30 June1986) for three of Egypt's four principal state-owned commercial banks show thatprovisioning has been sharply increased. The biggest, National Bank of Egypt (NBE),also reported a steep decline in net profits for the year from E51.7mn toE37.1mn ($27.5mn), while increasing its total provisions from E420mn toE...