By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
    TikTok updates its community guidelines
    March 23, 2023
    IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
    IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
    March 23, 2023
    Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
    Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
    March 23, 2023
    EFG Hermes records EGP 11bn revenue in FY22
    EFG Hermes records EGP 11bn revenue in FY22
    March 23, 2023
    Egyptian Environment Minister discusses cooperation with WFP representative in Cairo 
    Egyptian Environment Minister discusses cooperation with WFP representative in Cairo 
    March 23, 2023
  • Politics
    PoliticsShow More
    Egypt's Health Minister discuss bilateral cooperation with an Italian delegation 
    Egypt’s Health Minister discuss bilateral cooperation with an Italian delegation 
    March 23, 2023
    Egypt’s foreign minister phones Algerian counterpart over boosting ties
    Egypt’s foreign minister phones Algerian counterpart over boosting ties
    March 22, 2023
    Turkish President  Recep Tayyip Erdoğan and Egypt President Abdel-Fattah Al-Sisi met in Doha
    Opinion| Türkiye and Egypt: For better times with many opportunities
    March 22, 2023
    Drought caused 43,000 deaths in Somalia in 2022: UN
    Drought caused 43,000 deaths in Somalia in 2022: UN 
    March 22, 2023
    Opinion| The Chinese dragon occupies America's place in the Middle East
    Opinion| The Chinese dragon occupies America’s place in the Middle East
    March 22, 2023
  • Interviews
    InterviewsShow More
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    December 27, 2022
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Banque du Caire achieves EGP 4.8bn profits before taxes in September 2022
Share
Notification
Latest News
Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
TikTok updates its community guidelines
Business
Strong representation of women in TV series of Ramadan 2023
Strong representation of women in TV series of Ramadan 2023
Culture Cinema
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
Business
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Business
EFG Hermes records EGP 11bn revenue in FY22
EFG Hermes records EGP 11bn revenue in FY22
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Banque du Caire achieves EGP 4.8bn profits before taxes in September 2022
Business

Banque du Caire achieves EGP 4.8bn profits before taxes in September 2022

Daily News Egypt
Last updated: 2022/12/17 at 8:39 AM
By Daily News Egypt 4 Min Read
Share
Banque du Caire achieves EGP 4.8bn profits before taxes in September 2022
SHARE

Banque du Caire has reported that its profits before taxes increased to EGP 4.8bn in the third quarter (3Q) of 2022, compared to EGP 4.3bn in 3Q 2021, with a growth rate of 11%, while its net profits increased to EGP 2.9bn from EGP 2.7bn, with a growth rate of 7%.

The bank said, in a statement Monday, that its net revenues amounted to EGP 9.2bn in September 2022, compared to EGP 7.7bn in September 2021, with a growth rate of 19%. The bank also recorded a 21% increase in net income from fees and commissions to EGP 1.7bn, compared to EGP 1.4bn, which led to a 19% growth in operating revenues to EGP 11.3bn, compared to EGP 9.5bn.

Tarek Fayed, Chairperson and CEO of Banque du Caire, said that the bank’s positive growth reflects the success of its business plan which is based on diversifying its banking services and increasing the size of its loan and deposit portfolios.

Fayed stressed that the bank continues to invest in developing its infrastructure as well as its technological and human resources, to which the bank has been giving great attention since 2018 with the aim of providing the best level of banking services to its customers. He noted that the bank’s capital expenditures amounted to EGP 4.6bn from 2018 to 2022.

According to the business results of the bank, the capital adequacy ratio reached 15%, and the bank achieved a return on average equity of 18.5%. The total assets amounted to EGP 297bn, compared to EGP 255bn in 2021, a growth rate of 16%.

According to business performance indicators, the individual loan portfolio increased by about EGP 19bn to EGP 129bn in September 2022, a growth rate of 17%.

The corporate loan portfolio increased to about EGP 63.3bn in 3Q 2022, compared to EGP 54.4bn in 2021, with a growth rate of 16%. The small and medium enterprises (SMEs) financing portfolio reached EGP 15.6bn in September 2022, compared to EGP 11.7bn in 2021, a growth rate of 33%.

The retail loan portfolio increased by about EGP 5.1bn, at a growth rate of 13% compared to 2021, bringing the total portfolio to about EGP 43.5bn in 3Q 2022. The bank’s micro-loan portfolio increased to about EGP 6.63bn in 3Q 2022, compared to EGP 5.58bn in 2021, with a growth rate of 19%, which led to an increase in the number of the portfolio’s clients by about 16.3% during the period, with 104,000 new loans granted.

With regard to the customer deposits portfolio, it achieved a growth of EGP 37.5bn at a rate of 19%, rising from EGP 198.3bn in December 2021, to EGP 235.8bn in September 2022.

The mobile and internet banking services also witnessed a boom in the number of subscribed customers during the third quarter of 2022, reaching about 419,000 customers, with a growth rate of 62%, and the growth rate of the “Cairo Cash” customer base reached 10% in 3Q 2022, compared to 2021.

The total number of credit cards issued by the bank in 3Q 2022 amounted to about 172,000, an increase of 8%, with an estimated balance of EGP 892m, which also increased by 30% compared to 2021. Meanwhile, the number of debit and prepaid cards reached 2.7 million cards in 3Q 2022.

The bank’s ATM network reached 1,640 ATMs nationwide, while its branch network includes 248 branches.

You Might Also Like

TikTok updates its community guidelines

IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses

Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023

EFG Hermes records EGP 11bn revenue in FY22

Egyptian Environment Minister discusses cooperation with WFP representative in Cairo 

TAGGED: Banque Du Caire
Share this Article
Facebook Twitter Email Print
Previous Article Egypt willing to strengthen bilateral cooperation with North Macedonia: Shoukry Egypt willing to strengthen bilateral cooperation with North Macedonia: Shoukry
Next Article Damietta Containers and Port Said Containers to be listed on EGX in 1H 2023 Cairo Chamber of Commerce calls for solving cargo accumulation crisis
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
TikTok updates its community guidelines
Business
Strong representation of women in TV series of Ramadan 2023
Strong representation of women in TV series of Ramadan 2023
Culture Cinema
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
Business
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?