(2017-05-28) Barclays -Egypt profits rise 59% in first quarter of 2017 Barclays - Egypt reported a profit after taxes worth 258 million pounds during the first quarter of this year, compared to 163 million pounds, up 59% over the same period last year.
The bank’s Board Member and Chief Financial Officer Mohammed Sharif, said: "Several factors contributed directly to the growth in the bank's profits, including the increase in the revenues by 46% during the first quarter of 2017.
Customer’s loans increased by EGP 1.7 billion, up 20% from EGP 8.4 billion in December 2016 to EGP 10.1 billion on 31 March 2017.
Deposits decreased slightly by 1.6% from EGP 18.4 billion at 31 December 2016 to EGP 18.1 billion at 31 March 2017 as a result of fluctuations in the interest rates in the Egyptian market.
