Banque Du Caire Registers EGP700mn Profits in H1

An official source in Banque Du Caire said his bank achieved around EGP700million profits during the first half of the current year, registering 28% growth rate in compared to 2013.

The bank’s general assembly approved on the business results of 2013by recording EGP1.044billion profits so that the bank exceeded EGP1billion for the first time against EGP830million in 2012 move up by 25.7%.

The bank’s board of directors planned detention profits so as to support and increase its capital base but Misr Financial Investments Company (MFIC) rejected the board’s request in the second year respectively.

Banque Du Caire eyes attaining 25% growth rates in all banking sectors so that Loan portfolio of major development projects surge by 30% along with aiming to register 200% growth rates in small and medium sized project portfolio.

Furthermore, the bank’s credit portfolio ups EGP27billion at the end of the first quarter of this year including 45% personal loans and EGP59billion deposits in the same period.