Banque du Caire, a leading Egyptian bank, has received approval from the Central Bank of Egypt (CBE) to increase its issued and paid-up capital by EGP 9 billion, bringing it to a total of EGP 19 billion. Additionally, Banque Misr, a major shareholder, has increased its stake through a cash infusion of EGP 1.5 billion, resulting in Banque du Caire’s total capital reaching EGP 20.5 billion.
This significant capital increase reflects Banque du Caire’s commitment to growth and expansion. The bank’s licensed capital has also surged to EGP 50 billion, providing further flexibility for future strategic initiatives. Banque du Caire reported impressive financial results for 2023, solidifying its position as a key player in the Egyptian banking sector.
Banque du Caire’s capital increase and solid financial performance position the bank for continued success. The bank achieved a remarkable growth of 112%, reaching EGP 6.7 billion compared to EGP 3.1 billion in 2022. Profits before taxes surged by 96% to EGP 11 billion, reflecting strong operational performance. Banque du Caire maintains a robust capital base with a combined capital adequacy ratio of 17.35%, ensuring financial stability. The bank’s total assets expanded by 25% to EGP 402 billion in 2023, showcasing its overall growth trajectory. The investment portfolio, including stocks and funds, witnessed an increase of EGP 831 million, reaching EGP 4.8 billion by year-end, reflecting a growth rate of 20.7%.
