Gaza on verge of famine as war escalates, ceasefire talks stall    Gaza crisis, trade on agenda as Trump hosts Starmer in Scotland    Obama calls for aid access to Gaza, says 'no justification' for withholding food    Egyptian president follows up on initiatives to counter extremist thought    Egypt's SCZONE eyes deeper investment, port digitalisation ties with Singapore    Egypt's gold prices slip slightly on July 28th    Egypt's Housing Min. reviews HDP marketing plan    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egypt, South Africa pledge to deepen development cooperation at G20 meeting    Egypt's PM orders road maintenance review, tougher penalties to curb accidents    Egypt, Novartis explore expanding collaboration in oncology, cardiology    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Midar partners with Adeer to develop Boulevard project in Mostakbal City with EGP 70bn investment    Association of Real Estate Developers seeks urgent meeting over threatened land deallocation on Northwest Coast    Culture minister launches national plan to revive film industry, modernise cinematic assets    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    I won't trade my identity to please market: Douzi    Egypt welcomes 25-nation statement urging end to Gaza war    Sisi sends letter to Nigerian president affirming strategic ties    Egypt, Senegal sign pharma MoU to unify regulatory standards    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    Egypt foils terrorist plot, kills two militants linked to Hasm group    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Banque Misr reports EGP 93.3bn pre-tax profits in 9M 2024
Daily News Egypt Published in Daily News Egypt on 04 - 01 - 2025

Banque Misr has posted pre-tax profits of EGP 93.345bn for the first nine months of 2024, marking a significant increase from EGP 59.305bn in the same period last year.
According to the bank's financial report, net profits after taxes reached EGP 60.457bn in September 2024, up from EGP 39.240bn in the previous year.
The bank's net income from returns saw a notable increase, reaching EGP 109.786bn in September 2024, compared to EGP 77.794bn in September 2023. Similarly, net income from fees and commissions rose to EGP 16.675bn, up from EGP 10.439bn in the same period.
As of September 2024, Banque Misr's total assets surged to EGP 3.444trn, a substantial rise from EGP 2.551trn at the end of 2023. Customer deposits also experienced a sharp increase, reaching EGP 2.336trn compared to EGP 1.874trn in December 2023. Furthermore, customer loans and facilities grew to EGP 1.184trn, up from EGP 911.941bn.
The bank's equity expanded to EGP 306.8bn in September 2024, compared to EGP 198.06bn in December 2023. Banque Misr's investments in subsidiaries and affiliates also increased, reaching EGP 57.045bn compared to EGP 51.166bn.
Additionally, the syndicated loan portfolio rose by EGP 32.9bn to EGP 371.444bn in September 2024, compared to EGP 338.539bn in the same period last year.
The direct loan portfolio for institutions saw a remarkable rise to EGP 514.936bn, compared to EGP 341.841bn in 2023. Credit card balances also increased to EGP 9.296bn from EGP 6.311bn.
Banque Misr's financial report also highlighted the growth of its loan portfolios. The bank's loan balances stood at approximately EGP 98.661bn, compared to EGP 86.397bn in 2023. The mortgage finance portfolio expanded to EGP 20.060bn, up from EGP 17.922bn. Additionally, the retail banking portfolio grew to EGP 131.524bn, compared to EGP 115.055bn in the previous year.
Finally, Banque Misr reported a significant jump in savings certificates, which reached EGP 1.181trn in September 2024, compared to EGP 946.102bn in 2023. Demand deposits increased to EGP 481.991bn, up from EGP 356.410bn, while savings deposits grew to EGP 256.870bn, compared to EGP 229.309bn last year.

Clic here to read the story from its source.