CAIRO Nov 8 Egyptian lender National Societe
Generale Bank, has reported a 10 percent rise in
quarterly net income, helped by a rising loan book.
NSGB, Egypt's second-biggest private sector bank by market
capitalisation, said on Thursday third-quarter net income rose
to 389.5 million Egyptian pounds ($64 million). Net profit was
354 million pounds.
Qatar National Bank is in talks to buy a
controlling stake in NSGB from French bank Societe Generale
NSGB, 77.2 percent owned by Societe Generale, reported total
loans of 37.5 billion pounds at the end of September, up 3
percent this year. Retail loans rose 16 percent and corporate
loans 1 percent.
The bank said it was gaining market share for loans, based
on central bank data till August, showing NSGB accounted for 7.5
percent of the loans market, up from 7.4 percent at end-2011.
It said it lost market share for deposits, slipping to 4.9
percent from 5.2 percent. Total deposits stood at 51.5 billion
pounds at the end of September, little changed from December.
Total assets were up 1 percent this year to 63.2 billion
($1 = 6.1130 Egyptian pounds)
(Writing by Marwa Awad; Editing by Dan Lalor)