The Egyptian Saudi Finance Bank (ESFB) recorded 16.6 million Egyptian pounds ($3.6 million) in net profits for the fist half of 2003 compared to nine million Egyptian pounds for the same period last year. These figures constitute a 118 percent rise, reported CASE.
ESFB was established in 1980 and was initially called Al-Ahram Bank. Renamed 1998, ESFB conducts all of its transactions according to the Islamic Shariah Law. In the first nine months of 2002, the bank recorded a 27.4 percent net profit drop. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
