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Banque Misr pays EGP 3.6bn in taxes, achieves highest net profit in its history - Daily News Egypt

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Banque Misr pays EGP 3.6bn in taxes, achieves highest net profit in its history

The bank’s net profit reached EGP 4.2bn in FY 2014/2015, compared to EGP 2.5bn in 2013/2014, with a 66.3% growth rate after paying EGP 3.616bn in taxes


Banque Misr has achieved the highest net profit for the sixth consecutive year.

According to a statement from the bank, its fiscal year (FY) 2014/2015 profit was EGP 7.8bn before taxes, a 48% growth compared to FY 2013/2014.

The bank’s net profit reached EGP 4.2bn in FY 2014/2015, compared to EGP 2.5bn in 2013/2014, with a 66.3% growth rate after paying EGP 3.616bn in taxes.

Banque Misr’s financial position increased to EGP 331bn in June 2015 compared to EGP 274bn in June 2014, a 21% growth ratio.

Customer’s deposits reached EGP 290bn, an increase of EGP 50bn representing a 21% increase.

The retail loans portfolio was EGP 7.8bn, with a 33% growth rate in June 2015, and small- and medium-sized enterprises (SMEs) loans size increased by 56% to reach EGP 5.3bn.

The total credit portfolio of Islamic transactions with the bank was EGP 3.1bn in June 2015, compared with EGP 1.9bn in June 2014.

The Banque Misr general assembly commissioned, in a meeting last Wednesday, the financial lists of the bank for FY ending 30 June 2015.

 

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