Banque Du Caire shelves IPO plan until March-end
Updated 11/17/2022 8:32:00 AM
Arab Finance: The Financial Regulatory Authority (FRA) approved postponing the deadline for the initial public offering (IPO) of Banque du Caire (BDC) (BQDC) to March 31st, according to a filing to the Egyptian Exchange (EGX) on November 16th.
It is worth noting that the bank’s net interest income grew to EGP 5.9 billion in the first half (H1) of 2022 from EGP 5 billion in H1 2021.
BDC, 99.9%-owned by Egypt's second-largest state-owned bank Banque Misr, is the sixth-largest bank in Egypt in terms of total assets, acquiring a 3% market share in system-wide loans and deposits.
The bank also has the third-biggest customer base, with over three million customers.
