Misr- Iran profit hit EGP 158mn in 6 months

Thursday 09 August 2018 02:22 PM

Misr-Iran Development
Misr-Iran Development

Misr- Iran Development Bank has recorded  EGP 158 million profits in the first half of this year, and the lender expects such profits to reach more than 350 million by the end of the year, through boosting revenues from various loans and commissions.

On the sidelines of the annual meetings of African Central Banks Association, which started yesterday in Sharm el-Sheikh, the bank's Managing Director Amr Tantawy,  said in a statement to Al-Mal that the first-half profits were less than expected as a result of the bank's investment portfolio revaluation in shares, worth about 500 million pounds .