Banque du Caire posts US$ net profit for the year 2020

EGYPT – Banque du Caire, a financial service provider, has revealed that it achieved EGP3.2 billion (US$204.11m) net profits in 2020, while its profits before taxes reached EGP4.8 billion (US$306.17m). According to the bank’s performance indicators for 2020, it achieved a 19% year-over-year growth in total revenues to EGP12 billion (US$765.41m) by the end of 2020. This compared to the EGP10 billion (US$637.84m) it reported at the end of 2019. The net interest margin (NIM) increased to 5.8% by the end of 2020, compared to 5.2% in 2019, bringing the net income…

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Banque du Caire secures US$100m financing from EBRD for on-lending MSMEs

EGYPT – Banque du Caire, a full-service bank, has secured US$100 million financing package from The European Bank for Reconstruction and Development (EBRD) for trade financing and on-lending to local micro-, small and medium-sized companies (MSMEs). The EBRD will provide a US$50 million loan to help Banque du Caire increase the amount of funding it makes available to Egypt’s MSMEs and support the bank in expanding its MSME lending outside the Greater Cairo region. The EBRD is also extending a US$50 million trade finance limit under the EBRD’s Trade Facilitation…

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Banque du Caire shelves privatization plans due to COVID-19

EGYPT – Banque du Caire Tarek, one of Egypt’s largest commercial banks, has once again shelved plans to list its shares on the Egyptian Stock Exchange due to the economic challenges caused by the corona virus pandemic. Speaking to Reuters, Chairman of Banque du Caire Tarek Fayed revealed that the bank had started the procedures of the offering process but it suspended those plans due to global conditions. He added that that things have not been clear and global markets were still unstable, and continued to be troubled by corona…

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State-owned Banque du Caire to sell a US$500m minority stake through IPO

EGYPT – Egypt has announced plans to sell a minority stake in state-owned Banque du Caire in an initial public offering (IPO) worth about $500 million. The bank’s chairman Tarek Fayed said that the financial institution intended to float the IPO in mid-April provided investor interest holds up in the face of the coronavirus. The bank is part of a revived programme of selling shares in a long list of state companies that was announced three years ago but has faced repeated delays. According to Ahram online, if successful, the…

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Banque du Caire profits rises by 59% to hit US$257 million in 2019

EGYPT – Banque du Caire, one of the largest commercial banks in Egypt has recorded significant growth in the fiscal year 2019 recording revenues in excess of the targeted rates. The bank’s profits before taxes reached EGP 5.29 billion (about US$340 million) at the end of 2019 compared to EGP 3.89 billion (US$250.16 million) at the end of 2018. The banks net profits increased to nearly EGP 4 billion (about US$257 million), compared to EGP 2.5 billion (aboutUS$160.77 million) the previous fiscal year. The bank also revealed that it achieved…

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Egypt’s Banque du Caire, MSMEDA sign US$31m deal to boost credit access for SMEs

EGYPT – Banque du Caire,one of the leading full-service banks in Egypt has signed a US$31 million (EGP500 million) contract with the Micro, Small, and Medium Enterprises Development Agency (MSMEDA) to finance micro projects as part of the Khalifa Fund for Enterprise Development’s agreement. The multimillion-dollar deal is in line with Egypt’s strategy to expand financing to micro enterprises to reduce unemployment and support the owners and employees of these projects. The value of the financing contract will be all directed to Bedaity (My Start) financing project, created by MSMEDA,…

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