Egypt: Banque du Caire's profits climb 120% YoY in H1 2024

Reuters

Net interest income surged by 61% YoY in H1 2024 to EGP 12.8 billion from EGP 8 billion

Staff Writer, Arab Finance

PHOTO

Arab Finance: Banque du Caire posted a 120% year-on-year (YoY) increase in net profits for the first half (H1) of 2024, recording EGP 5.7 billion, compared to EGP 2.6 billion, according to an emailed press release.

Net interest income surged by 61% YoY in H1 2024 to EGP 12.8 billion from EGP 8 billion.

The bank’s customer deposits grew by 4% YoY to EGP 315.2 billion at the end of June 2024, versus EGP 302.1 billion at end-December 2023.

Meanwhile, total loans provided to customers and banks went up 12% to EGP 202 billion in H1 2024, compared to EGP 179.8 billion at the end of 2023.

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