Banque du Caire’s profits hike to $147.1mln in 9M-23

Banque du Caire posted higher net profits after tax at EGP 4.54 billion in the first nine months (9M) of 2023, compared to EGP 2.89 billion in 9M-22.

Net interest income surged year-on-year (YoY) to EGP 12.41 billion in the January-September 2023 period from EGP 9.17 billion, according to the separate financial results.

The basic earnings per share (EPS) hit EGP 0.91 at the end of September 2023, down from EGP 1.10 in 9M-22.

Total assets increased to EGP 380.42 billion in 9M-23 from EGP 321.58 billion as of 31 December 2022, while the customers’ deposits widened to EGP 274.53 billion from EGP 250.18 billion.

Income Statements for Q3

In the third quarter (Q3) of 2023, the lender recorded non-consolidated net profits amounting to EGP 1.94 billion, marking an annual jump from EGP 1.05 billion.

The net interest income hiked to EGP 4.44 billion in Q3-23 from EGP 3.25 billion in Q3-22.

During the first half (H1) of 2023, the standalone net profits after tax of Banque du Caire enlarged to EGP 2.59 billion from EGP 1.84 billion a year earlier.

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