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NBK-Egypt reports 21% profit decline

NBK-Egypt reports 21% profit decline

ArabFinance: The National Bank of Kuwait NBK-Egypt (NBKE) reported a 21% Year on Year decline in its net profit for Quarter one (Q1) of 2020, according to the company’s May 21st financial statement filed to the Egyptian Exchange.

Net profit reached EGP 402.764 million in Q1, compared to EGP 509.991 million achieved in Q1 2019.

The bank distributed cash dividends of EGP 1.25 per share on April 8th to the shareholders recorded on April 5th

NBK-Egypt, formerly Al Watany Bank of Egypt SAE (AWB), is an Egypt-based public shareholding company engaged in the provision of corporate, retail, and investment banking services. The bank’s financial services and products include trade finance, and commercial and residential mortgages, among others.

 

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