Banque du Caire’s standalone net profit surpasses EGP 0.8B in Q1
Updated 6/13/2022 1:06:00 PM
Arab Finance: Banque du Caire (BDC) (BQDC) reported positive standalone financial results for the first quarter (Q1) of 2022, with its net profit exceeding EGP 0.8 billion at the end of March 2022, according to an emailed press release on June 13th.
The bank’s operating revenues grew by 14% year-on-year (YoY) in Q1 2022 to EGP 3.5 billion from EGP 3.1 billion.
The customers' loan portfolio increased by EGP 9 billion to reach EGP 119 billion at the end of March, while the credit portfolio for major companies and banks increased by 10% to EGP 59.2 billion.
The retail loans portfolio rose by 5% to EGP 40.5 billion in Q1 2022 as compared to 2021, while the microfinance portfolio amounted to EGP 6 billion at a growth rate of 8%.
Meanwhile, the customers' deposit portfolio recorded a growth rate of 4% in Q1 2022, reaching EGP 205.8 billion as compared to EGP 198.3 billion at the end of December 2021.
BDC, the 99.9%-owned by Egypt's second-largest state-owned bank Banque Misr, is the sixth-largest bank in Egypt in terms of total assets, and it has the third-biggest customer base with over 3 million customers.
