Cairo – Mubasher: The board of directors of the Export Development Bank of Egypt (EBE) approved the estimated budget for the year 2023, aiming to achieve EGP 1.44 billion in profits, compared to expected profits of EGP 1.22 billion by the end of 2022.

The EGX-listed lender aims to register revenues of EGP 5.11 billion next year, compared to an expected value of EGP 3.80 billion by 2022 year-end, according to a stock exchange statement on Wednesday.

In the first nine months of 2022, EBE recorded consolidated net profits of EGP 993.53 million, a yearly jump of 125.60% from EGP 440.34 million, including minority shareholders’ rights.

The bank’s net interest income advanced to EGP 2.14 billion in the nine-month period ended 30 September 2022, compared to EGP 1.44 billion in the year-ago period.