Banque du Caire reports 66% increase in net profit in 9 months
Banque du Caire reported a 66 percent year-on-year net profit increase during the first nine months of 2019 recording 3 billion Egyptian pounds.
The lender’s profits before taxes amounted to 3.9 billion pounds in the January-September period, compared to EGP 3 billion in the same period a year earlier.
The Egyptian bank’s loan portfolio grew by 14 percent recording 76 billion pounds at the end of the third quarter of 2019, when compared to the end of 2018, while the deposit portfolio rose by 17.6 pounds billion with 14 percent increase registering to 149 billion pounds at the end of Q3-19.
Net interest income increased by 33 percent to record 6 billion pounds at the end Q3-19, while net income from fees and commissions grew by 39 percent reaching 1.1 billion pounds.
However, , the micro, small, and medium-sized enterprise (MSME) loan portfolio hiked by 56 percent reaching 11.3 billion pounds at the end of Q3-19, while the retail banking portfolio increased by 11% recording EGP 24 billion.