November 8, 2012 / 9:36 AM / 5 years ago

UPDATE 1-NSGB Q3 net profit up 10 percent

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CAIRO, Nov 8 (Reuters) - 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 pounds. ($1 = 6.1130 Egyptian pounds) (Writing by Marwa Awad; Editing by Dan Lalor)

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