Barclays Egypt to open new branches, expects profits to grow

Barclays bank in Egypt will open two new branches in the coming months, chief of staff Shady Kamal said on the sidelines of the Euromoney conference on Wednesday.

One branch will be located in the Cairo Festival City Mall in New Cairo, while the other will be in 6 October's Mall of Arabia.

Shady expects the bank to realise LE490 million ($68.5 million) in 2014, compared to LE425 million ($59.4 million) last year.
"Those will be the highest profits we've ever reached," Kamal said.