Export Development Bank of Egypt (EBE) plans to achieve profits worth EGP 844 million during the 18-month period from 1 July 2020 to 31 December 2021, according to a bourse disclosure on Monday.
The targeted profits are lower than the EGP 1.52 billion earnings recorded during the period from 1 January 2019 to 30 June 2020.
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EBE’s board has meanwhile given the green light to inaugurate five new branches until the end of this year.
During the first nine months of fiscal year (FY) 2020/2021, the bank registered a net profit of EGP 535.89 million, compared to EGP 978.29 million in the period from 1 July 2020 until 31 March 2021.
