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Banque du Caire sees 7% higher net profits in Q3-21

Banque du Caire sees 7% higher net profits in Q3-21
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Cairo – Mubasher: The net profits of Banque du Caire rose by 7% to EGP 2.7 billion by the end of the third quarter (Q3) of 2021, compared to EGP 2.5 billion in the year-ago period, the Middle East News Agency (MENA) reported.

The bank's net income from returns reached EGP 7.7 billion by the end of Q3-21, up 3% from EGP 7.5 billion in the same period of 2020.

Meanwhile, the bank's net income from fees and commissions jumped by around 24% to EGP 1.4 billion in Q3-21 from EGP 1.2 billion in the corresponding period of the earlier year.

The customer and bank loans portfolio rose by about EGP 12.6 billion to EGP 105 billion by the end of September, while the corporate credit portfolio increased to EGP 51.7 billion.

It is noteworthy to mention that in the first half (H1) of 2021, Banque du Caire reported standalone net profits at EGP 1.8 billion, up by 7% year-on-year (YoY) from EGP 1.7 billion.