Watany Bank Q1 net profit jumps 78 pct

Al Watany Bank reported a 78 percent jump in net profit in the first quarter of 2007 to LE 44.1 million ($7.8 million), the stock exchange said in a statement on Thursday. The bank had reported a net profit of LE 24.8 million in the same period a year earlier. Al Watany said on March …

Al Watany Bank reported a 78 percent jump in net profit in the first quarter of 2007 to LE 44.1 million ($7.8 million), the stock exchange said in a statement on Thursday.

The bank had reported a net profit of LE 24.8 million in the same period a year earlier.

Al Watany said on March 11 an unspecified number of regional banks, whom it did not identify, were seeking to acquire a controlling stake.

Shares in Al Watany were down 0.2 percent at LE 44 by 1100 GMT.

Topics: FJP