Misr Iran Banque Raises EGP 1.6 Bln T-Bills Investments In June-End

The total investments of Bank Misr Iran in Treasury Bills and Bonds have hit a record around jumping to its highest level to EGP 1.6 billion by the end of June 2013, moved up by EGP 200 million compared to EGP 1.4 billion by the end of 2012.

An official source in the bank has informed Amwal Al Ghad that Bank Misr Iran total deposits has hit  a record around EGP 5.800 billion by the end of June 2013, move up by EGP 400 million  compared to EGP 5.400 billion by the end of March 2013. 

The source has emphasized that his bank is aiming to reach a total deposit portfolio up EGP 6.5 billion by the end of 2013, and he added that the net profits of the bank amounted to about EGP 167 million within the first half of the current year , move up by EGP 81 million compared to EGP 86 million by the end of the first quarter. 

The bank is targeting to achieve net profits up EGP 250 million by the end of this year, explaining that the bank has become compatible with Basel 2 standards especially after raising the issued and paid up capital to EGP 1 billion compared to EGP 174 million.

The results of the bank’s business for the last year revealed the growth in net profit with 17% to make the bank’s profits up around EGP 215.4 million by the end of 2012 compared to EGP 184 million in 2011.