Egypt’s Banque Misr reported on Tuesday 40 percent increase in pre-tax profit in the financial year 2019/2020, which ended in June last year.
Pre-tax profit at Egypt’s second largest bank was 24 billion Egyptian pounds ($1.5 billion) at the end of June 2019 compared with 17.3 billion pounds in the same period a year earlier.
Net profit after tax reached 11 billion pounds growing 29 percent at the end of June, the bank’s financial indicators showed.
Customers’ deposits also grew to 928 billion pounds at the end of June 2019, compared with 746 billion pounds in the same period in 2018.
Meanwhile, The bank’s financial position totaled 1.2 trillion pounds compared to 967 billion a pounds year earlier, with 27 percent growth rate.
The number of issued payment cards, meanwhile, recorded 9.43 million cards in December 2020 to come in the second place among Egyptian banks in terms of payment cards number.
The bank’s retail portfolio reached some 47.9 billion pounds in June 2020 versus 31.5 billion pounds in June 2019 with 2.1 percent growth rate.
