ICEC

Banque Misr posts profits 8.2 bln in FY 2016/2017

Egypt’s second biggest bank, state-owned Banque Misr has  achieved a growth in its net profits by 49 percent during the last financial year to register  8.2 billion Egyptian pounds compared to 5.5 billion pounds a year earlier, Chairman Mohamed El-Etreby said.

He added that the bank has achieved a great leap in its profits during the last three months with percentage of 66 percent, 35 percent and 49 percent respectively.

Moreover, Banque Misr and the National Bank of Egypt has collected security of 261 billion Egyptian pounds from the high yield certificates within 14 months of its issuance.

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