Misr Iran Bank Raises Its Investments In T-Bills To EGP 1.4 Bln

Misr Iran Development Bank’s investments in treasury bills reached EGP 1.4 billion at the end of 2012, up from EGP 1 billion at the end of June 2012.

Sources revealed to Amwal Al Ghad that the bank targets to raise the loan-to-deposit ratio to 71% through injecting EGP 1 billion to the bank’s loan portfolio to reach EGP 5 billion at the end of 2013.

The bank also plans to raise its deposit portfolio to EGP 7 billion by the end of 2013, up from EGP 5.250 billion at the end of 2012, sources added.

The expected profit achieved by the bank by the end of 2012 is close to EGP 220 million, compared to EGP 180 million at the end of last September.