The Export Development Bank of Egypt reported consolidated net profits of EGP 409.7 mn in 2H2020, down 32% y-o-y from EGP 602.8 mn, according to an EGX filing (pdf).

Net interest income was EGP 105 mn lower than the year before due to the central bank’s rate cuts.

EG Bank posted consolidated net profits of EGP 624.9 mn in 2020, a slight decline of 5% from EGP 658 mn a year earlier, according to an EGX filing (pdf). Interest income declined to EGP 7.37 bn in 2020 from EGP 7.51 bn in 2019.

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