Arab Finance: The National Bank of Kuwait-Egypt (NBK-Egypt) expects a 50% year-on-year (YoY) increase in profits by the end of 2024 from EGP 4 billion, the bank’s CEO Yasser El Tayeb told Asharq Business.
El Tayeb noted that the liberalization of the exchange rate contributed to improving the economic activity in general and positively impacted the bank’s ability to fund foreign trade and national projects, strengthening its operations in Egypt.
He added that the bank aims to increase its current market share of 1.4% in terms of assets over the coming period.