Egyptian Saudi Finance Bank (ESFB) reported a 20 percent drop in its net income for the Financial Year 2001, which ended December 31, 2001. The bank posted 11.8 million Egyptian pounds ($2.54 million) in net profits, down from the EP14.7 million it had reported during the previous FY00. The bottom line drop was mainly attributed to a significant 53 percent rise in provisions, which totaled EP27 million over the year. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
