Misr Iran Bank’s Deposits Decline to EGP5.9bn in September

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Misr Iran Development Bank’s deposits fell to EGP5.9 billion in September in compared to EGP6.8 billion in 2013 declining to EGP900 million.

An official source in the bank said Misr Iran had a plan to increase deposits to EGP8 billion but it is difficult to achieve it amid the country’s recent project of Suez Canal investment certificates that ups to 12%.

The bank achieved profits worth EGP229 million in September against EGP187 million in June 2014.

Misr Iran is targeting to achieve EGG300 million profits by the end of 2014 with 20% growth rates in compared to the last year.