Piraeus Bank Egypt’s net profit soared more than 14-fold in the first half of 2008 to £E 27.7 million.
The bank made £E 1.8 million of net profit in the same period of 2007. The stock exchange, who made this announcement, did not give details.
Egypt's Capital Market Authority (CMA) said in June it had approved a £E 200 million increase in the issued capital of the bank to 1 billion pounds.
About Piraeus Bank Egypt
Piraeus Bank Egypt is part of the Piraeus Bank Group. It has 40 branches in the country. The Piraeus Bank Group is one of the most dynamic and active financial organisations in Greece today. Founded in 1916, Piraeus Bank went through a period of state-ownership and management (1975-1991) before it was privatised in December 1991. Since then, it has continuously grown in size and activities.
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