Egypt’s Banque Misr: customers’ deposits rise 11.3% by June-end

Egypt’s second largest state-owned lender, Banque Misr reported a 11.3 percent year-on-year growth in its customers’ deposits to 746 billion Egyptian pounds ($44.9 billion) at the end of June.

Deposits earlier stood at around 670 billion pounds at the end of June 2018.

Loans and credit facilities surged 22.6 percent to about 271 billion pounds at the end of last June from 221 billion pounds during the same month in 2018, vice chairman Akef El Maghraby said on Saturday.

The bank’s funding portfolio for small and medium-sized enterprises (SMEs) jumped 95 percent to 24 billion pounds against 12.3 billion, El Maghraby further told Amwal Al Ghad.