Banque Du Caire Eyes to Raise Loans Portfolio to EGP 26 bln 2013-End

Supervisor at the Financial sector of Banque Du Caire ,Shaker Osman, has revealed that his bank is aiming to boost the loans portfolio and granted facilities of the customers to reach EGP 25.8 billion by the end of the next of December2013, against EGP 24 billion at the end of the last June.

Osman said in an exclusive to Amwal Al Ghad Banque Du Caire is owning 4.27% market share from the total granted loans of the banking sector in December 2012 and it raised to 4.52% at June.

Osman has noted that his bank is targeting to attain total profits worth EGP 1.5 billion by the end of the current year, asserting that the deposit portfolios of customers hit around EGP 54 billion at the end of last June, move up by EGP 4.9 billion within the first 6 months.

He added that the total core capital up EGP 1.6 billion, while the total equity reached EGP 3.804 billion at the end of June, move up by 4.5% (EGP 164 million ) compared to EGP 3.640 billion December 2012.

He has asserted that the total assets rose by EGP 62.5 billion last June compared to EGP 56.01 billion at the end of 2012, move up by 12% (EGP 6.5 billion).

The bank is targeting to increase its total assets by the end of 2013 to reach EGP 64.6 billion with 4% market share and 3.5% growth rate.

Osman said that the strategy of the bank during the last period based on aside precautionary measures in case of any emergency circumstances affect the overall Bank figures, pointing out that the proportion of non-performing loans of the total loans and facilities reached to 0.57% 2012 end.

Osman further has emphasized that the total aside of precautionary measures at June 2013 up EGP 947 million , move up by EGP 230 million, compared to EGP 717million on previous December.