The National Bank of Egypt (NBE) reported FY2015 net profit of EGP5.091 billion (USD569 million) as of June 2015, up 36% Y-o-Y compared to EGP3.747 billion in June 2014, according to the bank’s CFO Hussein Al Rifai. Al Rifai said that the bank’s AGM approved a proposal to retain profits, aiming to boost shareholders' equity and NBE’s growth plans. The bank's total assets increased 14% Y-o-Y to EGP520 billion. Total loan book stood at EGP156 billion in June 2015, up 25% from EGP125 billion in June 2014, boosted by the bank's focus on lending rather than investing in debt government debt tools, Al Rifai stated. Customers' deposits picked-up 14% Y-o-Y to EGP448 billion, compared to EGP393 billion in 2014. NBE’s branch network expanded to 292 branches in June 2015, up from 278 a year earlier. (Amwal Al Ghad)