Banque Du Caire’s 9-Month Net Profit 1295% Up

Banque Du Caire’s net profit rose by 1295% during the first nine months of 2012 as it reached EGP 614 million at the end of last September, compared to EGP 392 million in Q2, EGP 201 million in Q1 and EGP 44 million in 2011.

Sources expected Banque Du Caire to acquire an advanced rank among banks in 2012 in terms of profit, return on equity and return on assets to raise its net profit to EGP 800 million.

The bank has allocated provisions to face potential risks that may threaten some customers in the current period because of the current political unrest, sources added.

The bank’s three-year term plan aims at regaining its market share to stand at 5% in the next two years, up from the current market share which swings from 3.5% to 4% through expanding in key banking sectors which achieve high growth rates.

Banque Du Caire pays high regard in financing SMEs which represent the backbone of national economy. The bank plans to increase the value of SME finance portfolio to EGP 8 billion in three years, compared to EGP 600 million which was offered to 250 customers. The bank will fulfill such goal through a number of mechanisms mainly through offering customers a continuous line of credit.