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Banque du Caire reports lower profit in 9 months

Banque du Caire reports lower profit in 9 months

ArabFinance: State-owned Banque du Caire achieved a net profit after tax worth EGP 2.52 billion during the first nine months of 2020, Masrawy cited the bank’s statement.

The result came 16% Year on Year lower than about EGP 3 billion, the bank added.

Banque du Caire’s credit portfolio, for both individuals and banks, grew to EGP 92 billion at the end of September.

The corporate credit portfolio increased to EGP 44 billion, as on September 30th, the bank added.

The financial entity has achieved a net profit of EGP 1.7 billion during the first half of 2020, Chairman Tarek Fayed said.

As for financing small and medium-sized enterprises (SMEs), the bank’s portfolio grew to EGP 15.6 billion at the end of September, compared with EGP 13.7 billion in December 2019.

The bank has reportedly planned to pump EGP 1 billion worth of funding for SMEs.

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