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Al Watany Bank Q1 net up 129pc

Cairo, May 14, 2008

AlWatany Bank of Egypt, a unit of National Bank of Kuwait (NBK), reported a 129 per cent rise in first-quarter net profit to 101 million Egyptian pounds ($18.9 million), the stock exchange said on Wednesday.

AlWatany Bank, which the Kuwait bank bought last August, made 44.1 million pounds in the January-March period of 2007, it said in a statement. NBK now owns 98 percent of AlWatany.-Reuters




Tags: profit | Al Watany |

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