Banque Misr net profit hits new record in FY2015-16: sources

Big 5

Egypt’s second biggest bank, state-owned Banque Misr has reported record net profits during the financial year 2015-2016, sources with knowledge told Amwal Al Ghad on Sunday.

The bank made net profits of 5.5 billion Egyptian pounds ($316.4 million), up 31 percent on financial year 2014-2015, the sources added.

Banque Misr’s shareholders will meet soon to review and endorse the bank’s financial statements, the sources said.