ICEC

Banque Du Caire Attained EGP 1.4 bln Profits 2012-End :CEO

The total profits of Banque Du Caire recorded about EGP 1.4 billion at the end of the fiscal year of 2012,move up by 214% against EGP 400 million at the end of FY/11.

Mounir El Zahid, Chairman and CEO of Banque Du Caire, said the net profits of the last fiscal year reached EGP 830 million.

El Zahid has asserted that the positive results which attained by the bank due to a policy of expansion which followed by the bank and this policy contributed in raising the volume of assets within this year to hit EGP 56 billion December-end 2012, compared to EGP 49 billion in December 2011.

El Zahid has revealed that the bank is seeking to expand the capital base in order to attain its Expansionist objectives within the coming period and to increase the market share among the banks of banking sector, noting that the bank’s directors is considering a number of scenarios to increase the capital during the next period.

El Zahid has emphasized that the facilities and loans portfolios surged by EGP 21.7 billion during the conference which held by the bank today move up by EGP 4 billion(22.6%) against EGP 17.7 billion.

He said the bank’s deposits inched by 12.4%( EGP 5.4 billion), move up by EGP 49.01 billion, against EGP 43.6 billion at the end of 2011.

He further affirmed that the total equity amounted to EGP 3.640 billion by the end of December 2012, move up by EGP 164 million and 4.5% growth rate, pointing out that the return on equity rose to 27.5%.

He Stated that net interest income surged by EGP 804 million  move up by EGP 2.270 billion  at the end of 2012 compared to EGP 1.466 billion 2011.

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