State-owned Banque du Caire aims to finance several projects the government will present in the March Economic Summit, said the bank’s Vice-Chairman Mohamed Taha.
Taha said his bank has a large liquidity enabling it to expand in funding national projects, noting the bank will attend the Summit, and will study all proposed projects.
In late 2014, Banque du Caire CEO Mounir El-Zahed expected his bank’s profits to grow by more than 25% by the end of the year. The bank’s profits increased to EGP 1.6bn in 2013, compared to EGP 830m recorded in 2012, El-Zahed said.
Yearly financial results are yet to be announced.
The total amount of loans provided by the bank to microenterprises is worth EGP 1bn, while total accumulated debts amount to EGP 7bn. Total current bank deposits are worth EGP 60bn and have a 15% growth rate compared to the same period last year, and loans represent 40% of total deposits at present, according to latest figures announced by the bank.