Egypt’s state-run Banque du Caire Q1 net profit at EGP1 billion

Banque du Caire, Egypt’s third largest public state-lender, reported on Sunday a 20 percent year-on-year growth in net profit for the first quarter of the year.

Net profit recorded 1 billion Egyptian pounds ($64 million) for the first quarter of 2021 from 800 million pounds for the same period in 2020.

Net income from fees and charges also grew by around 6 percent to 461 million pounds from 433 million pounds for the same period last year.

Customers’ deposit surged to 165 billion pounds at the end of March 2021, the bank’s chairman Tarek Fayed said in a statement.