NBE says it will net almost EGP 12.5 bn in FY2016-17

National Bank of Egypt (NBE) expects to match its profit levels of EGP 12.5 bn recorded in FY2015-16 after making EGP 6 bn in 1H2016-17, Deputy Chairman Yehia Aboul Fotouh told Al Mal. He says the bank’s credit portfolio increased by 50% y-o-y by December’s end, recording EGP 350 bn, with deposits also up by 34% y-o-y to EGP 750 bn. Aboul Fotouh also noted that NBE’s AGM agreed to increase the bank’s paid-in capital by EGP 13.65 bn to reach EGP 28.65 bn.