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HSBC Bank Egypt SAE, operating under the investment law and capitalized at L.E. 2,078 million, fully paid up, has posted for the first quarter of 2012 about L.E. 431.3 million net profits before taxes on L.E. 646.3 million net operating revenues after deducting L.E. 340.1 million costs of deposits and borrowing among other revenues. Figures compare with L.E. 379.2 million net profits before taxes posted for the same quarter of 2011 on L.E. 506.8 million net operating revenues after deducting L.E. 347.3 million costs of deposits and borrowing among other revenues. Meanwhile, customer's loans and credits as at 3/31/2012 increased to L.E. 20,516 million up from L.E. 19,440 million three months ago. Also, customers deposits as at the same date have increased to L.E. 43,513 million up from L.E. 42,196 million three months ago. Shareholders net equity as at the same date, excluding the periods profits, declined to L.E. 3,532 million down from L.E. 4,213 million three months ago. Chairman is Mr. Abdel Salam Al Anwar, CEO is Mr. Andrew Long. The bank operates 83 branches and 14 small sized banking units. It employs more than 2,500 employees.
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