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Nasser Social Bank plans EGP200mn capital increase in 2016

Egypt's Nasser Social Bank (NSB) says it is planning to pump EGP200mn (USD22.5mn) into its capital within the current year, which should raise its capital to EGP2.2bn. The bank’s Chairman Mohamed Shoman said that NSB’s board has approved the capital increase, which comes as part of the bank’s expansion plan. Shoman added that NSB is targeting net profit of EGP339.6mn by end of 2016. Nasser Social Bank is an interest-free savings and investment bank for social and economic development, pension, and social security business. (Amwal Al Ghad)

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