Photo of people standing in the line to make withdrawals outside Banque Du Caire in downtown Cairo-Reuters Photo of people standing in the line to make withdrawals outside Banque Du Caire in downtown Cairo-Reuters

Banque du Caire achieved profits of LE 1.2 in first half of 2018: CEO

By: MENA
Sun, Sep. 23, 2018
CAIRO - 23 September 2018: Banque du Caire had achieved net profits worth EGP 1.2 billion during the first half of 2018, the bank board chairman and CEO Tareq Fayed revealed on Sunday.

In a statement, Fayed said that the bank had managed to make a great leap in its financial indicators to generate profits of EGP 2.2 billion before deducting tax during the first half of 2018, compared to EGP 1.5 billion during the same period of 2017.

The bank also succeeded in increasing its total loan portfolio during the first half of 2018 by 13% to register EGP 50.5 billion, versus EGP 44.5 billion in 2017, he added.

The volume of micro-credit had reached EGP one billion, an increase of 45%, during the first half of 2018, he said.

The bank managed to raise the rate of portfolio of mortgage loans to hit EGP 1.4 billion during the same period of 2018, he noted.

About 17,000 clients are benefiting from the Central Bank of Egypt's (CBE) initiative for mortgage financing, he said.
 
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