VOL. XLIII

No. 30

24-July-2000

EGYPT

Egypts NSGB Announces 15% Increase In Net Profits For First Half 2000

National Societe General Bank (NSGB), one of Egypts four large private sector banks, announced on 17 July a 15% increase in net profits in the first half of 2000 to E61.9mn ($17.8mn), compared to E53.8mn ($15.5mn) for first half 1999. The increase in earnings took place despite a 21% increase in provisions to E34.4mn ($9.91mn).

According to Cairo-based EFG-Hermes, this healthy growth is due...