Egypt’s state-run Banque du Caire 2020 net profit hits EGP 3.2 billion

Banque du Caire, Egypt’s third largest public state-lender, reported on Wednesday solid growth rates and positive financial results for the financial year ending December 31, 2020.

Net profit stood at 3.2 billion Egyptian pounds ($203.6 million), while net profit before taxes reached 4.8 billion pounds.

Revenues grew 19 percent year-on-year to 12 billion pounds in 2020 from 10 billion pounds in 2019.

Net interest margin (NIM) rose to 5.8 percent at the end of 2020, compared with 5.2 percent at the end of 2019.

Net income from fees and charges also grew by around 4 percent to 1.6 billion pounds in 2020 from 1.5 billion pounds a year earlier.