Cairo – Mubasher: Banque Du Caire on Tuesday announced a 53.8% year-on-year profit surge during the first nine months of 2018.
Egypt’s third largest state-run bank logged EGP 2 billion in profits after tax in the January-September period of this year, versus EGP 1.3 billion in the same period last year, according to a statement.
Profits after tax amounted to EGP 3.2 billion at the end of September, versus EGP 2.3 billion in the prior-year period, the Egyptian lender said.
The bank’s loan portfolio rose by 24% at the end of third-quarter of this year, recording EGP 55.4 billion in the nine-month period ended September, versus EGP 44.5 billion in the year-ago period.
Meanwhile, the loan-to-deposit ratio stood at 45.2%, compared to 36.5% at the end of December 2017, according to the statement.
Major companies’ loan portfolio at the bank amounted to EGP 27.8 billion at the end of Q3-18, whilst the loans portfolio dedicated to small- and medium-sized enterprises (SMEs) stood at EGP 2.4 billion at the end of September.
Moreover, the bank’s loan portfolio directed to microfinance projects recorded EGP 3.8 billion at the end of September.
The facilities granted to Upper Egypt accounted for around 55% of total facilities provided by Banque du Caire, while women dominated 35% of total facilities.
The bank’s mortgage portfolio reached EGP 5.1 billion for over 18,000 clients, Banque Du Caire indicated, noting that it aims to raise the mortgage portfolio by 20% from in 2017 to EGP 1.7 billion by the end of 2018.
