Egypt’s Banque du Caire nine-month pre-tax profit grows 11% y-o-y

Egypt’s third largest public state-lender, Banque du Caire (BdC) reported on Monday a 11 percent year-on-year growth in profit before tax in the first nine months of the year.

Pre-tax profit recorded 4.8 billion Egyptian pounds ($194.5 million) at the end of September 2022 from 4.3 billion pounds in the same period last year.

Net profit also rose 7 percent year-on-year to 2.9 billion at the end of September 2022 from 2.7 billion pounds in the same period in 2021.

Net interest income stood at 9.2 billion pounds at the end of September from 7.7 billion pounds in the same period last year, marking a 19 percent growth, the bank added in a statement.

Total assets surged 16 percent year-on-year to 297 billion pounds at the end of September 2022 from 255 billion pounds at the end of December 2021.