Banque Du Caire Eyes Share Top Up to 8% Within 3 Years

Banque Du Caire is targeting to seize 8% of the market share of deposits and loans granted by the banking system over the next three years.

An official source in the Bank has emphasized to Amwal Al Ghad that the Bank’s department is aiming to raise the granted facilities and the loans portfolio for the customers to EGP 25.8 billion by the end of 2013.

The source has explained  that the loans portfolio recorded about EGP 24 billion at the end of June, while it hit EGP 21.7 billion in December 2012 with market share estimated 4.27% within the last year.

The bank is reviewing with Misr Financial Investments Company (MFIC) to pump EGP 1.250 billion with EGP 1.6 billion capital within the current month.

The bank is intending to seize the entire profits of the previous year which reached EGP 830 million to be pumped in the capital and MFIC  is providing  EGP 400 million additional to meet  with the increase in capital.