Banque Du Caire Registers EGP700mn Profits in H1
Published 2014-07-27 10:47:49| Abdel Halem Elgendy, Sayed Badr
An official source in Banque Du Caire said his bank achieved around EGP700million profits during the first half of the current year, registering 28% growth rate in compared to 2013. The bank's general assembly approved on the business results of 2013by recording EGP1.044billion profits so that the bank exceeded EGP1billion for the first time against EGP830million in 2012 move up by 25.7%. The bank's board of directors planned detention profits so as to support and increase its capital base but Misr Financial Investments Company (MFIC) rejected the board's request in the second year respectively. Banque Du Caire eyes attaining 25% growth rates in all banking sectors so that Loan portfolio of major development projects surge by 30% along with aiming to register 200% growth rates in small and medium sized project portfolio. Furthermore, the bank's credit portfolio ups EGP27billion at the end of the first quarter of this year including 45% personal loans and EGP59billion deposits in the same period.
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Gras Savoye Insurance Broker - Egypt is targeting US$50 million premiums collected by its branches abroad within the current year, said Managing Director Hamed Mabrouk. In a recent statement to Amwal Al Ghad, Mabrouk explained that his company has two branches in Sudan and Jordan, stressing that it plans by coming months to increase its presence in the Arab world. Gras Savoye Egypt's board of directors agreed to expand in Kuwait and Yemen, Mabrouk added. Furthermore, the company is looking forward opening up ts branch in Libya provided that security and political stability is restored there.
Heliopolis Company for Housing and Construction (HELI.CA) achieved EGP171million net profits within the period from July to May (2013/2014) registering 32.5% increase in compared to EGP129.6million in the same period of the previous year. A copy of financial statements which obtained by Amwal Al Ghad said the net profits that achieved in last May reached up EGP42.6million in compared to EGP12.5million in the same month of the previous year. Revenues reached EGP443million at May whereas the total expenses in this period hit EGP271million. The value of sales boosted to EGP431 million at May 2014 against EGP417.8 million in the same period of the last year.
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