Banque Du Caire: Investment Portfolio Records EGP 1.3 billion at end-2014

Banque Du Caire’s investment portfolio ranged between EGP 1.250-1.3 billion by end of 2014, head of investment sector Mohammed Ragaei stated.

By end of September 2014, the bank’s investment portfolio had reached EGP 1.1 billion approximately.

Speaking to Amwal Al Ghad, Ragaei pointed out that BDC aims to raise its investment portfolio within the first half of 2015 to compensate last year’s slow growth.

Banque Du Caire, the third largest government-owned bank in Egypt, is also planning to launch its fifth investment fund worth 100 million Egyptian pounds in the first quarter of 2015. The fifth fund is balanced, set to invest in stocks, bonds, and fixed-income instruments.

Banque Du Caire would reveal in the coming days the name of the head responsible for managing the new fund.

The bank has four investment funds with total business volumes of 2.515 billion pounds.

Meanwhile, the total profits achieved in the bank’s investment portfolio hit EGP 148 million at the end of 2013.