Egypt’s first-half net loss widens
Egypt’s National
Bank for Development (NBD) said its net loss widened 4.7 percent in the
first half of the year, according to a statement published by the
Egyptian stock exchange on Monday.
The bank reported a
net loss of 203.4 million Egyptian pounds in the period from December
31, 2009 to June 30, 2010, up from a loss of 194.2 million pounds in
the same period last year.
The bank did not give a reason for the loss.
Total assets rose
to 10.7 billion pounds from 10.1 billion. Loans to customers climbed to
506.5 million pounds from 242.3 million.
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