Home MoneyBanks Egypt’s Banque du Caire Q1 net profit at EGP 800 million

Egypt’s Banque du Caire Q1 net profit at EGP 800 million

by Mostafa Mahmoud
Banque du Caire

Banque du Caire (BdC), Egypt’s third largest public state-lender, announced on Monday that its net profit recorded 800 million Egyptian pounds ($42.6 million) in the first quarter of the year.

Net interest income stood at 2.8 billion pounds at the end of March from 2.5 billion pounds in the same period last year, marking a 12 percent growth, the bank added in a statement.

Customers’ deposits also rose 4 percent to 205.8 billion pounds at the end of March 2022 from 198.3 billion pounds at the end of December 2021.

The bank’s retail funding portfolio also increased by 5 percent to around 40.5 billion pounds in the first quarter of the year.

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