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Egypt's NSGB net profit drops 20%
- United Arab Emirates: Wednesday, November 04 - 2009 at 10:05
National Societe Generale Bank, Egypt's fourth-biggest bank by assets, said it posted a 20% drop in third-quarter net profit, beating analysts' forecasts, Reuters has reported. The bank's net profit fell to 224 million Egyptian pounds ($41m), beating the 214.9 million pounds average forecast of four analysts polled by the news service. NSGB Chairman Mohamed El-Dib said the results put the bank in a good position to benefit from economic recovery in 2010, but warned of a decline in the creditworthiness of some customers.
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StaffWednesday, November 04 - 2009 at 10:05 UAE local time (GMT+4)
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