Banque Misr: pre-tax profit hits EGP 27.7 billion in 9 months

Egypt’s second largest public bank, Banque Misr said on Monday its profit before income tax recorded 27.781 billion Egyptian pounds ($1.1 billion) in the first nine months of 2022.

Earlier, pre-tax profit stood at 25.514 billion pounds in the January-September 2021 period.

Net profit also rose to 17.701 billion pounds at the end of September 2022 from 17.071 billion pounds at the end of September 2021.

Retail lending portfolio surged to 91.293 billion pounds as of September 2022 from 81.899 billion pounds as of September 2021.

Total assets jumped to 1.971 trillion pounds from 1.583 trillion pounds.