Misr Iran Bank’s Deposit Portfolio Hit EGP 6.4 Bln At End-March 2013

Misr Iran Development Bank’s deposit portfolio reached EGP 6.4 billion at the end of last March, compared to EGP 5.2 billion at the end of 2012, registering a growth rate of 23%.

Sources said the bank plans to raise deposit portfolio to EGP 7 billion by the end of 2013 through launching a number of investment pools with competitive rates.

The bank also seeks to inaugurate 3 new branches in Delta, Upper Egypt and Qena to attract new customers’ segment. This will raise the number of its branches to 17, sources added. 

Misr Iran Development Bank’s profit rose 7.5% to reach EGP 86 million at the end of Q1 of 2013, compared to EGP 80 million at the end of March 2012.