NBK Egypt posts 34% profit decline
Updated 11/11/2020 1:47:00 PM
ArabFinance: The National Bank of Kuwait - Egypt (NBK Egypt) reported a 34% Year on Year decline in its net profit in the first nine months of 2020, according to the company’s November 11th financial statements filed to the Egyptian Exchange.
Net profit after tax stood at EGP 1.097 billion in the January-September period of 2020, compared to EGP 1.666 billion achieved in the prior-year period.
The bank previously signed a cooperation protocol with the Egyptian Banks Company for Technological Advancement to launch Meeza prepaid cards.
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.
