Banque du Caire achieved a profit of EGP 3.3bn at the end of December 2016, versus EGP 2.8bn in 2015, according to Mounir El Zahid, chairperson and CEO of the bank. El Zahid explained that net profit after taxes amounted to EGP 2.2bn, noting that the bank return on equity marked 50%. According to El Zahid, the most important distinguishing feature of Banque du Caire’s profits is that they are operating profits that resulted from the expansion of all banking activities. He added that the size of the bank’s assets grew by EGP 40bn to reach EGP 131bn in 2016, compared to EGP 91bn in 2015. Moreover, El Zahid said that the total volume of the loan portfolio amounted to about EGP 45bn at the end of 2016, up by EGP 10bn.

Source: Daily News Egypt June 11, 2017 08:37 UTC