The United Bank of Egypt (UBE) recorded a three percent net profit increase over the course of fiscal year 2001, reaching 31.2 million Egyptian pounds ($6.7 million), compared to EP 30 million in 2000, according to company financials.
The bank’s interest revenue increased by 21 percent, reaching EP347.6 million, coupled with a 21 percent increase in interest expense, reaching EP305.7 million. Net interest income skyrocketed 27 percent to EP 41.9 million.
UBE is an Egyptian joint stock company that carries out all commercial activities in local and foreign currencies from its nine branches. The bank's paid in capital is EP200 million, distributed among 20 million shares. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
