Banque Du Caire Eyes to Attain EGP 1.5 bln Profits by 2013-End

Banque Du Caire is aiming to achieve total profits worth EGP 1.5 billion by the end of the current year of 2013.

An official source in the bank said Banque Du Caire has achieved EGP 830 million net profits within 2012, asserting that all of these profits are from banking activities and does not include a response for the allocations or sale of assets for the subsidiary of the bank, bringing the net return on equity to 27.5% during the same period.

The source added to Amwal Al Ghad that the results of the bank’s business within 2012 exceeded the targeted period from the total profits with EGP 438 million and also the actual net profits during that period which are EGP 405 million.

The Center Auditing Organization (CAO) and the auditors of the bank have approved the financial statements of the bank of the last year of 2012, and it will be finalized during the meeting of the General Assembly of the Bank that will determine within days.

He has emphasized that the current year has witnessed increasing in the bank portfolios ranging between 10 to 15%, explaining that the net return surged by 19% within the first 6 months of this year to inch EGP 1.356 billion, whereas the asset portfolios went up by 12% to reach EGP 62.5 billion.

The loans recorded 12% increase up EGP 24 billion at the end of June, and the deposits of customers registered around EGP 54 billion, with 10% jumping.