The initial financial indicators of Banque Misr’s performance showed an increase in the financial position of the bank to EGP 887.5bn at the end of June 2018, compared to EGP 786.9bn at the end of June 2017, with a 12.8% growth rate. According to a report by the bank, the deposits portfolio increased by EGP 137.1bn, reaching EGP 669.6bn at the end of June 2018, compared to EGP 532.5bn in June 2017, with a growth rate of 25.7%. The report added that the net portfolio of loans provided to the bank’s customers increased to EGP 222.2bn, compared to EGP 179.1bn last year, with a 24.1% growth rate. The bank is currently seeking to complete many major funding operations, in addition to others under study, worth nearly EGP 20.4bn. The value of the coverage guarantee expected for the bank in Egypt in these operations is about EGP 8.3bn.

Source: Daily News Egypt December 18, 2018 03:56 UTC