Barclays Bank Egypt posts 15% jump in Q1 income

May 27, 2014 1:58 am

Barclays Bank Egypt has reported a 15% rise in its first-quarter net profit to EGP132m, compared with the same period last year, Daily News Egypt has reported. The growth is attributed to several factors including net trading profit growth of EGP21m, compared with a loss of EGP3m during the same period last year, the lender said. Additionally, the bank registered a significant drop in the provisions from around EGP25m to EGP4m, it said.