Banque du Caire reported net profits of LE 2.7 billion during the third quarter (Q3) of 2021, up by 7% year-on-year from LE 2.5 billion in Q3-20.<\/p>\n
The profit growth was ascribed to higher net interest income by 3% to LE 7.7 billion in the third quarter compared to LE 7.5 billion in the corresponding period of 2020.<\/p>\n
In addition, the net income from fees and commissions rose by 24% to LE 1.4 billion in Q3-21 from LE 1.2 billion in the corresponding period of 2020, leading to a 6% increase in operating revenues to LE 9.5 billion from LE 8.9 billion.<\/p>\n
The growing profits of the bank came despite increasing expenditures and investments in the infrastructure domain, especially technological and human ones, Chairman and CEO Tarek Fayed said.<\/p>\n
Fayed indicated that the bank maintained a strong capital base as its capital adequacy standard rate registered 15.68% and the return on average equity reached 20%, while the return on average assets stood at 1.6% at the end of September 2021.<\/p>\n
Total assets amounted to LE 243 billion, up by 18% from LE 205 billion at the end of 2020.<\/p>\n
The bank\u2019s loans for customers and banks surged by LE 12.6 billion to LE 105 billion at the end of September.<\/p>\n
Meanwhile, the bank\u2019s credit portfolio for large corporations and banks increased to LE 51.7 billion by the end of the third quarter of 2021. <\/p>\n
Egypt Today<\/p>\n","protected":false},"excerpt":{"rendered":"
Banque du Caire reported net profits of LE 2.7 billion during the third quarter (Q3) of 2021, up by 7% year-on-year from LE 2.5 billion in Q3-20. The profit growth was ascribed to higher net interest income by 3% to LE 7.7 billion in the third quarter compared to LE 7.5 billion in the corresponding […]<\/p>\n","protected":false},"author":40,"featured_media":247117,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7863],"tags":[47699,2484,77685,77684],"class_list":["post-247116","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english-section","tag-banque-du-caire","tag-egypt","tag-profits","tag-tarek-fayed"],"yoast_head":"\n