Egypt’s Banque Misr full-year customer deposits up 25.8%

Egypt’s second largest state bank, Banque Misr reported a 25.8 percent rise in its customers’ deposits during the financial year 2017-2018 ended on June 30.

Customers’ deposits were around 669.4 billion Egyptian pounds ($37.4 billion) at the end of June 2018, compared to 532 billion pounds last year, vice chairman Akef El Maghraby told Amwal Al Ghad on Monday.

Loans and credit facilities also rose 26.2 percent to 224.7 billion pounds during the year, compared with 178 billion at the end of June 2017, El Maghraby said.

“Our retail portfolio grew to 23.2 billion last June,” El Maghraby said.