The Banking Executive Magazine - Issue 150, June 2021

Banque du Caire Banque du Caire REPORTS EGP 1BN PROFIT IN Q1-21 Banque du Caire reported net profits of EGP 1 billion during the first quar- ter (Q1) of 2021, up by 20% year-on- year (YoY) from EGP 0.8 billion in Q1-20, the standalone financial re- sults showed on Saturday. The profit growth was ascribed to higher net interest income by 5% to EGP 2.5 billion in the January-March period, compared to EGP 2.4 billion in the year-ago period. In addition, the net income from fees and commissions rose by 6% to EGP 461 million in Q1-21 from EGP 433 million in Q1-20, leading to a 7% in- crease in operating revenues to EGP 3.1 billion from EGP 2.9 billion. The ongoing growth of the bank’s business results is driven by expan- sion plans and strategies adopted since 2018, especially in the digital transformation field, the Chairman and CEO, Tarek Fayed, said. Fayed indicated that the bank main- tained a strong capital base as its capital adequacy standard rate regis- tered 15.70% and the return on av- erage equity reached 23.3%, while the return on average assets stood at 1.9% at the end of March 2021 and the total assets amounted to EGP 211 billion, up by 3% from EGP 205 bil- lion at the end of 2020. The bank’s loans for customers and banks surged by EGP 1 billion to EGP 93.5 billion at the end of last March. Meanwhile, the bank’s credit portfo- lio for large corporations and banks increased to EGP 43.7 billion. SME LOANS The bank’s small- and medium-sized enterprise (SME) loan portfolio reached EGP 9 billion at the end of last March and the number of busi- ness centers and units serving SME customers amounted to 30. RETAIL LOANS AND DEPOSITS The value of the retail loan portfolio grew by 2% to EGP 35.3 billion, while the micro-funding loan portfo- lio reached EGP 5.5 billion. The customer deposit portfolio also increased by EGP 2 billion to EGP 165 billion at the end of March 2021. INTERNET BANKING The number of internet and mobile banking customers surged by 60% to 120,000 at the end of Q1-21. In addition, the number of Qahera Cash wallet customers rose to 600,000 with the value of transac- tions amounting to more than EGP 100 million. CREDIT AND DEBIT CARDS The number of credit cards rose by 5% quarter-on-quarter (QoQ) to about 145,000 in Q1-21 with the value of balances increasing by 6% to over EGP 610 million. In the meantime, the number of debit cards went up by 4% QoQ to 2.5 million at the end of March with the value of transactions amounting to EGP 22 million. BRANCHES As for the geographical expansion and branch development field, the bank inaugurated two new branches along with continuing its branch de- velopment plans. At the end of Q1-21, the number of the bank’s branches and banking units reached 243. It is worth noting that the bank has postponed offering its shares on the Egyptian Exchange (EGX) until global markets become more stable follow- ing the repercussions of the coron- avirus pandemic, Fayed told Bloomberg Asharq earlier in June. the BANKING EXECUTIVE 18 ISSUE 150 JUNE 2021 Mr. Tarek Fayed Chairman and CEO, Banque du Caire