Banque Misr reports EGP 52.9B in 2023 net profit
Updated 9/22/2024 8:46:00 AM
Arab Finance: Banque Misr achieved a significant increase in net profit for the full year ended December 31st, 2023, reaching EGP 52.9 billion, as per a statement.
The bank's total profit before taxes stood at EGP 80.9 billion last year, including EGP 28 billion allocated for taxes.
The bank's financial position stood at EGP 2.6 trillion end-December 2023, growing by 14.9% from EGP 2.2 trillion in 2022.
Loans provided to customers surged by 32.9% to EGP 911.9 billion last year, up from EGP 686.3 billion a year earlier.
This increase was driven by a 20.9% rise in individual loans and a 36.6% jump in corporate loans.
Meanwhile, customer deposits grew by 8.6%, totaling EGP 1.9 trillion in 2023, compared to EGP 1.7 trillion at the end of 2022.
Additionally, Banque Misr received 90 awards and accolades from major international institutions in 2023.
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