EAB’s profits were flat in 2001, at £E 73 million ($15.9 million). Total assets grew by 9.8 per cent to £E 6,902 million ($1,500 million). The bank’s loan portfolio fell by 10.7 per cent to £E 2,930 million ($637 million), and it maintained a highly liquid position, with about one-third of total assets held in balances with other banks. Deposits rose by 20 per cent to £E 6,028 million ($1,301 million).
The Standard Chartered bid was finally taken off the table in December 2001. EAB’s majority owners are American Express Bankand Bank of Alexandria.