Banque Misr To Approve FY 2011/2012 Budget Next Sunday

Banque Misr will hold its general assembly meeting next Sunday to approve its budget for FY 2011/2012 that ended on June 30^th, 2012.

The bank’s general assembly aims at discussing the financial statements for FY 2011/2012 and granting discharge from liability to the board members.

According to the latest data issued by the Central Bank of Egypt (CBE), the bank’s profit reached EGP 709 million, net assets rose to EGP 188 billion, shareholders’ equity registered EGP 12 billion and deposit portfolio rose to EGP 163 billion at the end of FY 2011/2012.

The bank’s branches rose to 475 and ATMs increased to 888 during the last fiscal year.