Egypt's Banque du Caire Posts EGP 12.4 Billion Net Profit for FY2024

Banque du Caire reported net profit of EGP 12.4 billion for the full year 2024, an 86% increase on the prior year. The Cairo-based lender disclosed the results in financial statements released on 18 March 2025.

Operating revenues rose 56% year-on-year to EGP 34.7 billion. The Central Bank of Egypt raised rates by a combined 800 basis points in February and March 2024.

BALANCE SHEET GROWTH ACROSS KEY METRICS

Gross loans expanded 26% year-on-year to EGP 227 billion, while customer deposits grew 17% to EGP 352 billion.

ACQUISITION INTEREST

The results arrive as Banque du Caire remains the subject of acquisition interest from regional banking groups. Media reports in March 2025 said Emirates NBD of the UAE had received Central Bank of Egypt approval to conduct due diligence on the bank and that Banque Misr was seeking up to about USD 1.2 billion for a 45% stake, although Emirates NBD played down the reports. Banque du Caire is majority-owned by Banque Misr, Egypt's second-largest state lender, and is included in the government's privatisation programme.