BLOM Bank Egypt targets to achieve growth rates of 15% in all performance indicators by the end of this year, according to leaders of the bank. Ozalp revealed during the conference that the bank achieved a growth of 43.07% of its total budget by the end of 2016 to reach EGP 27.8bn, compared to EGP 19.4bn in 2015. The total net profit after tax deduction was worth EGP 540m by the end of 2016, compared to EGP 372m by the end of 2015—an increase of 45.16%. According to Metwally, the bank’s return on equity reached 31.2% by the end of 2016, compared to 24.6% by the end of 2015. Increasing the bank’s capital raised the capital adequacy ratio to 18.39% in 2016, compared to 13.85% in 2015.

Source: Daily News Egypt April 02, 2017 07:07 UTC