(DNE Photo)
Regardless of the current economic challenges and their burdens and implications on the financial sector, the policies implemented by Banque Misr were reflected in its principal activities and performance for the financial year 2012/2013.
The deposits rose to EGP 188.8bn compared to EGP 162.5bn, reflecting a 16.2% increase, exceeding the sector’s average, recorded at 15.1%. This expanded Banque Misr’s market share to 15.9%. The bank’s loans were recorded at EGP 49.4bn in 30 June 2013 compared to EGP 44.1bn in the previous year, a rise of 11.9%, increasing the bank’s market share of lending to 9%.
The net returns and banking commissions increased by EGP 1788m, reaching EGP 6602m in 30 June 2013 compared to only EGP 4815m in the same period last year. The bank adopted a new strategy for its financial investment schedule through creating new investment plans and expanding existing ones in present companies. Direct investments in 176 companies reached EGP 9.2bn in 30 June 2013 compared to only EGP 7.4bn in the previous year; the main change in the bank’s strategy is increasing its share of investments in the companies by EGP 1.4bn.
Translated from AlBorsa newspaper
