CBE approves capital increase for Banque du Caire

CBE approves capital increase for Banque du Caire

The Central Bank of Egypt (CBE) has granted approval for Banque du Caire to increase its issued and paid-up capital by EGP 9bn, bringing it to EGP 19bn. Additionally, the bank’s Board of Directors has given the green light to Banque Misr’s request to enhance its shareholding in Banque du Caire through a cash infusion of EGP 1.5bn. As a result, Banque du Caire’s total issued and paid-up capital now stands at EGP 20.5bn.

The extraordinary general assembly of Banque du Caire also approved amendments to Article Six of the bank’s bylaws, addressing both licensed and issued capital, as well as the structure of shareholders. Notably, the bank’s licensed capital has been raised from EGP 20bn to EGP 50bn.

Financial Highlights:

Net Profits: By the end of 2023, Banque du Caire achieved net profits of EGP 6.7bn, a remarkable growth rate of 112% compared to the previous year’s EGP 3.1bn.

Profits Before Taxes: The bank recorded EGP 11bn in profits before taxes, reflecting a growth rate of 96% from the previous year’s EGP 5.6bn.

Capital Adequacy: Banque du Caire maintains a robust capital base, with an average combined capital adequacy standard of 17.35%. This strength is supported by balanced growth across all business sectors.

Total Assets: