Banque Misr: Deposits Portfolio Posts EGP 161 Bln In May

By Administrator On Jun 23, 2012

Banque Misr’s deposits portfolio rose by EGP 6 billion, or 3.9%, registering EGP 161 billion at the end of last May, up from EGP 155 billion at the end of FY 2010/2011.

Dollar deposits accounts for 22% of the deposits portfolio, registering US$ 6 billion (= EGP 36 billion) at the end of May, said Mohamed Abbas Farid, deputy chairman of Banque Misr.

Banque Misr targets, in its estimated budget for the FY 2011/2012 which will end on June 30^th, achieving an increase of 5% in the deposits portfolio. The bank’s deposits portfolio posted an increase of EGP 10 billion, or 7%, registering EGP 155 billion last fiscal year, up from EGP 145 billion at the end of June 2010.

Farid added that the bank achieved net revenue of EGP 2.1 billion at the end of June 2011, up from EGP 1.2 billion at the end of June 2010, with an increase of EGP 868 million, or 68%. This is the largest revenue achieved in the Egyptian banking market in the last fiscal year, Farid indicated.

Banque Misr’s net profit rose to EGP 515.2 million in the last fiscal year ended on June 30^th 2011, up from EGP 509.6 million at the end of June 2010.