Emirates NBD Egypt's Profits Surpass EGP200mn in H1
Published 2014-07-24 13:37:54| Sayed Badr
Emirates NBD Egypt Achieved AED 102.8 million (EGP200.7 million) during the first half of the current year in compared to EGP167.8 million at the same period of 2013, recording 19.6% growth rate. The bank's financial statements revealed that Emirates NBD Egypt attained AED326.1million (EGP636.7million) at June 2014. BNP Paribas SA, France’s biggest bank, also announced in 2013 the sale of its Egyptian unit to Emirates NBD PJSC in a $500 million deal. Emirates NBD registered AED1.3 billion within the first half of 2014(EGP2.55billion) so the unit's profits in Egypt reached 7.86% from the total profits.
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Social Fund for Development (SFD) has pumped EGP20million finance in favor of project to convert vehicles to work on natural gas in cooperation Petroleum Ministry through two contracts with Cargas and Gastec firms. Egyptian Petroleum Minister Sherif Ismail and Hanaa El Hilaly – Director General have signed the contract and 4000 vehicles will be converted throughout this finance. This contract comes in the framework of the government's efforts to help citizens after fuel rise price beside encouraging vehicles to work on natural gas as this project will support the national economy, keep the environment and reduce pollution.
Heliopolis Company for Housing and Construction (HELI.CA) achieved EGP171million net profits within the period from July to May (2013/2014) registering 32.5% increase in compared to EGP129.6million in the same period of the previous year. A copy of financial statements which obtained by Amwal Al Ghad said the net profits that achieved in last May reached up EGP42.6million in compared to EGP12.5million in the same month of the previous year. Revenues reached EGP443million at May whereas the total expenses in this period hit EGP271million. The value of sales boosted to EGP431 million at May 2014 against EGP417.8 million in the same period of the last year.
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