Bank Misr Iran Targets EGP300 mln Profits by 2013-End

Bank Misr Iran is aiming to hit a record around EGP 300 million , move up by EGP 85 million net profits by the end of this year, against EGP 215 million by the end of 2012.

An official source in the bank has informed Amwal Al Ghad that Bank Misr Iran total profits has hit  a record around EGP 244 million by the end of the third quarter of 2013, move up by EGP 77 million  compared to EGP 167 million by the end the first quarter.

The source  said the bank has become compatible with ‘Bazal 2’ standards, especially after raising its issued and paid-up capitals to EGP 1 billion, against EGP 714 million.

The bank recorded EGP 1.4 billion boosting in its deposits volume, move up by EGP 7.2 billion at the end of September, compared to EGP 5.8 billion at the end of last June.