Egypt’s Banque Misr: customers’ deposits rise 10.7% at March-end

Egypt’s Banque Misr reported a 10.7 percent rise in its customers’ deposits to around 742 billion Egyptian pounds ($42.8 billion) at the end of March from $670 billion last year.

During the first nine months of financial year 2018/2019, loans increased 21.7 percent to 269 billion, the second largest state-owned bank’s vice chairman Akef El Maghraby told Amwal Al Ghad on Thursday.

El Maghraby made these remarks on the sidelines of Seamless Middle East Conference that is taking place in Dubai on April 10 and 11.

“The bank captured 18.8 percent share of the Egyptian deposits,” he said.