Banque Misr’s Net Loans Surged EGP 6.9 Bln At End-2012

Banque Misr’s net loans rose EGP 6.9 billion (15.2%) by the end of December, 2012.

The bank expanded in offering retail banking products and innovated banking services and products in 2012 that cater to the needs of all customers as the bank launched car Murabaha and durable goods finance.

The bank targets to offer loans to pensioners and mortgage to low-income people as well as developing the current products such as personal loans, car loans, bill payment services, electronic payment of customs duties and taxes and Takaful insurance.

Banque Misr had earlier announced it achieved net profit of EGP 709 million in the last fiscal year that ended on June 30th 2012, compared to EGP 515 million at the end of FY 2010/2011.