Statement

Note

From 1/1/2007 to 31/12/2007

From

1/7/2006 to 31/12/2006

Interest income

 1 700 963

  646 550

Income from treasury bills and other government bills discountable at the CBE and bonds

  917 433

  500 309

Less: Interest expense

( 1 974 077)

( 913 122)

Net interest

  644 319

  233 737

Add:

Fee and commission income

  238 911

  108 444

Dividend income

  133 036

  14 343

Gains arising from foreign currency transactions

  22 742

  6 668

Gains arising from sale of investments

  85 768

  9 528

Valuation differences of trading investments

  241 330

  205 407

Other operating income

  14 178

  34 135

Net operating income

 1 380 284

  612 262

Less:

Provisions

( 177 139)

( 222 980)

Valuation differences of other investments

(14)

  28 845

( 49 330)

Administrative and general expenses and depreciation and amortization

( 561 763)

( 232 306)

Operating profits

  670 227

  107 646

Non-operating profits

  10 989

4

Net profit for the period

  681 216

  107 650

Earnings per share

(15)

EGP3.86

EGP0.67