Banque Misr Reports Profit Before Tax Of EGP 70.1Bn In H1 2024

2024-11-30 02:06:05

(MENAFN- Daily News Egypt) Banque Misr achieved a profit before income taxes of EGP 70.142bn in June 2024, compared to EGP 38.096bn in June 2023.

The financial statements revealed a net profit of EGP 48.194bn in June 2024, up from EGP 25.968bn in June 2023. Net income from returns recorded EGP 72.989bn, compared to EGP 48.208bn, while net income from fees and commissions rose to EGP 10.366bn, compared to EGP 6.678bn.

The bank's assets increased to EGP 3.294trn in June 2024, compared to EGP 2.551trn in December 2023. Total equity amounted to EGP 299.120bn in June 2024, compared to EGP 198.060bn in December 2023.

Total customer deposits rose to EGP 2.284trn, up from EGP 1.874trn, while the loans and facilities portfolio grew to EGP 1.111trn, compared to EGP 911.9bn.

The bank's retail banking portfolio increased to EGP 123.768bn in June 2024, compared to EGP 115.055bn in December 2023. Real estate loans grew to EGP 19.079bn, from EGP 17.922bn, while the personal loan portfolio rose to EGP 93.933bn, compared to EGP 86.397bn. Credit card balances also increased, reaching EGP 7.625bn, up from EGP 6.311bn.

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