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Banque du Caire announces EGP 2.1bn profits in FY 2014/2015: Chairman - Daily News Egypt

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Banque du Caire announces EGP 2.1bn profits in FY 2014/2015: Chairman

The bank’s net profit after taxes amounted to approximately EGP 1.3bn by the end of the FY 2014/2015


Banque du Caire achieved profits of EGP 2.1bn in fiscal year (FY) 2014/2015, compared to EGP 1.7bn in FY 2013/2014, an increase rate of 23.5%, according to CEO and Chairman Mounir El-Zahed.

El-Zahed said that the bank’s net profit after taxes amounted to approximately EGP 1.3bn by the end of the FY 2014/2015.

He added that the bank achieved revenue on property rights in 2014 of 35.26%. The net income of the revenue amounted to approximately EGP 3.3bn, compared to about EGP 2.8bn in 2013.

According to El-Zahed, the most important characteristic of the bank’s profits in FY 2014/2015 is that it was due to expansions in all the bank’s activities. This is in addition to applying a number of procedures and policies related to developing the activities, as well as increasing the bank’s competitiveness.

El-Zahed asserted that the bank targets increasing its role in developing economic activity and meeting the customers’ demands.

He added that the bank’s volume of assets increased in 2014 by EGP 8bn, amounting to EGP 73bn, compared to EGP 65bn in 2013, while the revenues from these assets amounted to approximately 1.83%.

El-Zahed said that the bank’s loans portfolio amounted to EGP 30bn in 2014, compared to EGP 25bn in 2013, an increase of EGP 5bn.

The bank’s deposits portfolio increased by EGP 6bn, amounting to EGP 64bn by the end of 2014, compared to EGP 58bn by the end of 2013. The loans-to-deposits rate in the bank amounted to around 46.88%, compared to 43.1% by the end of 2013.

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