Egypt’s Banque du Caire first-half net profit climbs 94% y-o-y

Egypt’s third largest state lender Banque du Caire reported on Sunday a 94 percent year-on-year rise in first-half net profit to 1.93 billion Egyptian pounds ($117 million).

Profits before taxes recorded 2.5 billion pounds as of the end of June, up from 1.91 billion pounds in the same period last year.

In six months, total assets rose 7 percent to 179 billion pounds; while total loans climbed 10 percent to 73 billion pounds.

Retail lending portfolio also surged by 9.6 percent in the first half of the year ending on June 30, the bank’s financial statements showed.