Egypt’s Banque du Caire Q1 net profit at EGP 800 million

Banque du Caire (BdC), Egypt’s third largest public state-lender, announced on Monday that its net profit recorded 800 million Egyptian pounds ($42.6 million) in the first quarter of the year.

Net interest income stood at 2.8 billion pounds at the end of March from 2.5 billion pounds in the same period last year, marking a 12 percent growth, the bank added in a statement.

Customers’ deposits also rose 4 percent to 205.8 billion pounds at the end of March 2022 from 198.3 billion pounds at the end of December 2021.

The bank’s retail funding portfolio also increased by 5 percent to around 40.5 billion pounds in the first quarter of the year.