Banque du Caire achieved positive performance until the third quarter of 2024, as it achieved a growth in its profits by 90% over the same period last year.
Net profits after taxes
Net profits increased by 90% by the end of September 2024, driven by improved results of the bank’s business in various sectors, most notably retail, treasury, corporate credit, and small and medium enterprises.
Net income from return
Loan returns and similar income at the end of September 2024 amounted to 49.1 billion Egyptian pounds, an increase of 38% compared to the same period of the previous year. The percentage increase in the cost of deposits and similar income reached 25% during the period, which led to a growth in net income from interest by 62%.
Net income from fees and commissions
Net income from fees and commissions increased to record 4.2 billion pounds, compared to 2.8 billion pounds during the same period in 2023, with a growth rate of 51%.
Operating revenues
Operating revenues increased to 25.1 billion pounds compared to 15.7 billion pounds during the same period in 2023, with a growth rate of 60%, which led to a decrease in the cost-to-income ratio to 32% (third quarter of 2023: 38%)
Administrative expenses
Administrative expenses for September 2024 increased by 34% by 8 billion Egyptian pounds compared to the same period of the previous year. The increase in administrative expenses is primarily due to higher performance costs, which reflect improved returns and continued investment and business growth.
Total assets increased by 19% to reach 478 billion Egyptian pounds at the end of September 2024 compared to 402 billion Egyptian pounds at the end of December 2023.
Total loans
The total loan portfolio recorded 216 billion Egyptian pounds, with a growth of 20% during the nine months of 2024, and the growth was driven by an increase in corporate loans amounting to 18 billion Egyptian pounds (+19%) and 10 billion Egyptian pounds (+14%) in individual loans.
Customer deposits
Customer deposits recorded an increase of 45 billion Egyptian pounds, reaching 347 billion Egyptian pounds, by 15%, during the nine months of 2024, compared to 302 billion Egyptian pounds at the end of December 2023. Individual customer deposits accounted for 53% of the total deposits, while customer deposits accounted for 53% of the total deposits. Companies and institutions held 47% of total deposits at the end of September 2024.
Asset quality
Non-performing loans amounted to 4.79% of the total loan portfolio, and the percentage of coverage of non-performing loan risks reached 148% of the bank’s balance of loan loss provisions amounting to 15.3 billion Egyptian pounds.
Capital adequacy and liquidity ratios
The Tier 1 capital ratio reached 12.54% of risk-weighted assets in September 2024, and the capital adequacy ratio reached 16.32%. The bank’s liquidity ratios also remained higher than regulatory requirements, as the liquidity ratio in local currency recorded 29% at the end of September 2024, the liquidity ratio in foreign currency reached 109%, and the net stable financing ratio recorded 167% (NSFR).
