Banque Du Caire, the state-owned lender, recorded a composite growth rate of 14.52% in all its activities that

Analysis

Banque Du Caire grows 14.52% on First Bank’s composite growth index during 9M-22

1/1/2023 10:21:30 PM

Banque Du Caire, the state-owned lender, recorded a composite growth rate of 14.52% in all its activities that included net profits, deposit portfolio, loan portfolio, and asset portfolio during the first 9 months of 2022, according to its financial results.

This rate was measured through a composite growth index developed by First Bank to identify the financial performance of banks with a single figure during 9M-22.

BDC was able to achieve positive results in all four sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio) which formulated First Bank composite growth index, led by customers deposits portfolio that recorded a growth rate of 18.94% by the end of September.

The deposits portfolio posted 235.8 billion Egyptian pounds by the end of September 2022 in comparison to 198.3 billion Egyptian pounds by the end of 2021.

The assets portfolio jumped by 16.26 to stand at EGP 297 billion pounds in 9M-22, compared to EGP 255.4 billion by the end of December 2021 with an increase of EGP41.6 billion.

The Bank’s net profit recorded EGP 2.89 billion during the first 9 months of 2022, compared to EGP 2.704 billion during the same period of 2021 with a growth rate of 7.10%.

In addition, the bank's loans and facilities to customers jumped by 15.78% to record EGP 123.8 billion at first 9 months of 2022, compared to EGP 107 billion at the end of December2 2021 with an increase of EGP 221 billion.

However, the deposit portfolio seen a growth of 15.72% standing at EGP2.7 trillion at H1-22, compared to EGP 2.3 trillion at the end of 2021 with an increase of 375 billion pounds.