Banque Misr’s net profits soar by 205%, reaching EGP26 bn during H1- 2023
First Bank
Separate financial statements, recently disclosed on the bank’s official website, reveal a growth in the bank’s net profits by 205.2%, with an increase of EGP17.46 bn, recording EGP25.968 bn during the first half of 2023 compared to EGP8.508 bn during the same period of 2022 .
Pre-tax profit in the bank increased by approximately 152.5%, totaling EGP38.096 bn during the first Half of 2023, compared to EGP15.088 bn in the same period of 2022, marking an increase of EGP23.008 bn.
The bank’s total assets grew by a rate of 12.37%, with an increase of EGP274.8 bn during the first Half of the current year, reaching EGP2.496 tn by the end of June 2023, compared to EGP 2.221 tn by the end of 2022.
The bank successfully increased the total portfolio of customer deposits by EGP139 bn, growing at a rate of 8.05% during the first Half of the current year, totaling EGP1.866 tn by the end of June 2023, compared to EGP1.727 tn by the end of 2022.
The bank extended credit to its customers by EGP124.8 bn, as the total portfolio of loans and facilities for its customers increased by 17.56% during the first Half of the current year, reaching EGP835.4 bn by the end of June 2023, compared to EGP710.6 bn by the end of 2022.
