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Business hub – cairo
Banque du Caire announced the bank’s independent financial statements during the first half of 2022, which revealed the continuation of recording strong growth rates. Profits before taxes amounted to 3.1 billion pounds, compared to 2.9 billion pounds during the first half of 2021, with a growth rate of 6%. The net profit amounted to 1.84 billion pounds, compared to 1.82 billion pounds during the same period in 2021. This increase is due to the rise in net income from the return to exceed EGP 5.9 billion, compared to EGP 5 billion at the end of the first half of 2021, with a growth rate of 17%. The net income from fees and commissions also increased by 25% to reach 1.1 billion pounds, compared to 0.9 billion pounds during the first half of 2021, which led to a 20% growth in operational revenues to reach 7.4 billion pounds, compared to 6.1 billion pounds during the same comparative period.
Tarek Fayed, Chairman and CEO of Banque du Caire, explained that in support of the bank’s expansion plan to implement many initiatives aimed at the continued growth and development of business sectors, The capital base of the bank was strengthened through the contribution of Banque Misr in increasing the capital of Banque du Caire by about 4 billion pounds in March 2022. The paid-up capital will reach 14 billion pounds by the end of the first half of 2022.
Fayed stressed the importance of this step in enhancing the positive financial indicators of Banque du Caire, as the aggregate capital adequacy standard rate reached 15.35%. The bank achieved a return on average equity of 18%. Total assets amounted to EGP 279 billion, compared to EGP 255 billion at the end of 2021, with a growth rate of 9%.
The total loan portfolio for customers and banks increased by about 14 billion pounds to reach 123.8 billion pounds by the end of June 2022, with a growth rate of 13%. Banque du Caire is also keen on promoting and developing the portfolio in various sectors such as financing major companies, syndicated loans, and medium, small and micro companies. In addition to retail banking.
The loan portfolio of major companies and banks increased to reach about 61.3 billion pounds at the end of the first half of 2022, compared to 54 billion pounds at the end of 2021, with a growth rate of 13%.
During the first half of 2022, Banque du Caire was keen to participate in financing major projects, whether through financing government or development projects in various sectors, most notably the construction, real estate development, petroleum and food sectors. As the monetary limits of the portfolio of the structural finance sector and syndicated loans increased during the first half, by EGP 3.6 billion.
Proceeding from the vital role represented by small and medium enterprises in achieving development goals, The bank achieved outstanding results in financing this sector, as the total portfolio amounted to 14.6 billion pounds at the end of June 2022, compared to 11.7 billion pounds at the end of 2021, with a growth rate of 24.5%.
The retail loan portfolio increased by about EGP 1 billion, with a growth rate of 9% over the fiscal year 2021, bringing the total portfolio to about EGP 41.7 billion by the end of the first half of 2022. The microfinance portfolio amounted to EGP 6.2 billion, with a growth rate of 11% over the fiscal year 2021.
The remarkable progress in the bank’s performance in the field of retail banking came as a result of the professionalism of the work teams in developing programs and promotional campaigns commensurate with the needs of customers of different segments, which resulted in an increase in the number of loans by 5% during the first half of 2022 compared to the same period of 2021. In addition to the diversity in the quality of loans directed to clients, Where the focus has been on many segments of clients such as government employees, the public sector, the public business sector and private sector employees, Business owners, pensioners, owners of deposits and savings certificates.
While the micro-loans portfolio at the end of the second quarter of 2022 amounted to about 6.18 billion pounds, compared to 5.58 billion pounds at the end of 2021, with a growth rate of 11%. Which led to an increase in the number of portfolio clients by about 10% during the period, Also, 67,000 new loans were granted during the first half of this year. It is worth noting that Banque du Caire is the first financial institution in Egypt to launch a digital lending service for this segment of clients at their headquarters in less than an hour without the client’s need to visit the branch’s headquarters.
The bank increased its contribution to the African Export-Import Bank “Afrixim Bank” by 82 million dollars, bringing its total investment to about 115 million dollars, in support of “Afrexim Bank’s plan” to lead the implementation of many strategic initiatives and products to support the growth and development of the continent and the advancement of African economies.
With regard to the customer deposit portfolio, The portfolio achieved a growth of 19.4 billion pounds, at a rate of 10%, to rise from 198.3 billion pounds at the end of December 2021 to 217.7 billion pounds by the end of June 2022, noting that this increase is due to the restructuring and simplification of work procedures in the branches and the speed of meeting customer needs and improving the level of customer service.
During the second quarter of 2022, the mobile banking and internet banking services witnessed a boom in the number of subscribed customers, reaching about 361,000 customers, with a growth rate of 39%. Cairo Cash’s customer base reached 853,000 customers, with a growth rate of about 9% at the end of the second quarter of 2022 compared to the end of 2021. The electronic acceptance services through the QR-Code also witnessed a growth rate of approximately 14%, with the total number of merchants reaching 220,000 merchants in the second quarter of 2022 compared to the end of 2021, and customers’ use of the Cairo Cash wallet for merchants increased to about 7 billion pounds during the half The first of this year 2022 compared to 389 million during the same period in 2021.
In the field of credit cards, The total number of cards by the end of the second quarter of 2022 amounted to about 170,000 cards, an increase of 6%, and a balance estimated at 796 million pounds, an increase of 16% compared to the end of 2021. While the number of all types of debit and prepaid cards portfolio at the end of the second quarter of 2022 amounted to about 2.8 million cards of various types (direct debit, prepaid and payroll cards), an increase of 4% compared to the end of 2021 and the increasing demand for the use of contactless cards by merchants, and the total value of transactions reached 181 million pounds at the end of the second quarter.
Banque du Caire offers a wealth service to major clients with the aim of developing the portfolio of this segment of current clients in the bank as well as attracting new clients from the Egyptian banking sector by providing an integrated program of banking services and solutions that are specifically designed to meet the needs of this segment of clients and to suit their lifestyle through a team Professional work of financial advisors, The number of Tharwa Lounges within the branches increased to 20 by the end of the second quarter, and the number is targeted to reach 33 by the end of 2022, in addition to the priority of obtaining services in all the bank’s branches.
Banque du Caire was also keen to be an effective partner in all the initiatives launched by the state for specific customer segments, especially the real estate financing and car replacement initiatives.
The bank is working on developing and increasing the number of ATMs as one of the most important and largest electronic channels available in the bank, where the bank’s ATM network reaches about 1640 ATMs, which cover all governorates of the Republic. In addition, 422 old models were replaced in order to provide better customer service. The machines are distributed according to geographical survey studies, as well as measuring the concentration of bank customers in the cities and villages of different governorates, which included the implementation of the initiative of the Central Bank of Egypt to install 320 ATMs in Egyptian villages as well as in some villages that are developed within the initiative of a decent life.
In the area of geographical expansion, The bank opened and developed 4 branches, bringing the bank’s branch network by the end of the first half of 2022 to about 248 branches and banking units in various governorates of the Republic. To reach customers wherever they are, Providing banking services to them at the highest level of efficiency and quality, in line with the latest internationally applied standards.
The Bank’s efforts continued during the first half of 2022 towards launching several community initiatives in line with its strategy in the field of community work to achieve the goals of sustainable development. In the field of village development, the Bank has contributed to many projects, most notably the project for the reconstruction of villages in the governorates of Aswan and Fayoum. The Nubian Handicraft Revival Project, In the field of training, rehabilitation and job creation, the Bank launched a project to train women in the field of handicrafts in the Asmarat district. In addition to the Bank’s continuation of the Good Loan Project and the “Skills Development and Training in Handicrafts Project” in Upper Egypt, In support of the medical sector, the Bank directed donations in favor of many hospitals, including Ahl Masr Hospital. Magdi Yacoub Heart Foundation, Baheya Hospital, hospital 57357، Future Hands Hospital and the Red Crescent Hospital. In the field of education, the Bank offered scholarships to outstanding students at Nile University and private universities. In addition to the Bank’s continued cooperation with ENACUTUS Egypt, The Injaz Misr Foundation for School Programs Support, The Bank continued to launch its bGreen initiative to preserve the environment. In the field of supporting people with special needs, the Bank sponsored the “Touch Your Dream” initiative and sponsored the SEED project to support 500 people with special needs to qualify them for the labor market.
The bank has won a number of awards, according to what was announced by EMEA Finance, in appreciation of its participation in a group of syndicated loans in many sectors, most notably the sectors of electricity, energy, contracting and food industries. The bank received several awards, including the award for the best structured finance deal in Africa. in Africa for its participation as the first principal payer and underwriter for the long-term financing granted to the Egyptian Electricity Transmission Company.
He also received the award for the Best structured finance deal in North Africa for his participation in a banking alliance as an initial master arranger and debt service account bank in the long-term, multi-tranche syndicated loan for the Canal Sugar Company.
And the Best Local Currency Deal Award at EMEA
Best local currency loan in EMEA, on the Bank’s participation in a banking alliance as the initial main salary in the medium-term syndicated loan for the benefit of Al-Gharabli Integrated Engineering Works.
