{"id":559929,"date":"2021-02-09T03:50:35","date_gmt":"2021-02-09T03:50:35","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/09\/marked-safe-from-covid-banque-du-caires-loan-book\/"},"modified":"2021-02-09T03:50:35","modified_gmt":"2021-02-09T03:50:35","slug":"marked-safe-from-covid-banque-du-caires-loan-book","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/09\/marked-safe-from-covid-banque-du-caires-loan-book\/","title":{"rendered":"Marked safe from covid: Banque du Caire\u2019s loan book"},"content":{"rendered":"

<\/a> State-owned Banque du Caire (BdC) hasn\u2019t seen a large rise in defaults despite <\/strong>covid-19<\/strong>, according to figures given by Chairman Tarek Fayed<\/a> in an interview with the local press<\/a> this week. The proportion of the bank\u2019s non-performing loans in its total credit portfolio increased only marginally to 3.5% in 2020, up from 3.3% a year earlier.<\/p>\n

This comes despite <\/strong>expectations in some quarters<\/a><\/strong> that banks would see a wave of defaults<\/strong> on the back of the pandemic. Many banks were forced to ramp up theirloan loss provisions last year<\/a> out of caution and some \u2014 including BdC \u2014 are preparing to do the same this year<\/a> in anticipation of a rise in defaults.<\/p>\n

No cause for alarm yet:<\/strong> The Egyptian banking system is expected toremain stable<\/a> despite bank bottom lines being \u201cunder pressure\u201d from higher loan losses and declining interest income. The sector has ample liquidity<\/a> on hand to defend against a rise in defaults.<\/p>\n

Also from Fayed:<\/strong><\/p>\n

BdC wants to raise its retail and microfinance loan portfolio to EGP 46 bn by the end of this year<\/strong>, Fayed said<\/a>, noting that the loan book stood at EGP 18 bn by the end of 3Q 2020. The bank\u2019s microfinance loan portfolio alone has almost tripled in size to EGP 6.2 bn over the past three years, while its syndicated loans stand at EGP 19.8 bn.<\/p>\n

Still no news on the IPO:<\/strong> BdC\u2019s plan to float 20-30% of its shares on the EGX will remain on ice while uncertainty over the trajectory of the pandemic continues to linger, he said. The listing was scheduled for last spring<\/a> but postponed indefinitely due to unfavorable market conditions caused by the pandemic.<\/p>\n

The bank\u2019s effective tax rate climbed to 34% by the end of September<\/strong> from 25% in 2019, Fayed said. This was thanks to amendments to the Income Tax Act<\/a> ratified in 2019 that changed how banks and corporations account for income from investments in government debt.<\/p>\n","protected":false},"excerpt":{"rendered":"

State-owned Banque du Caire (BdC) hasn\u2019t seen a large rise in defaults despite covid-19, according to figures given by Chairman Tarek Fayed in an interview with the local press this week. The proportion of the bank\u2019s non-performing loans in its total credit portfolio increased only marginally to 3.5% in 2020, up from 3.3% a year […]<\/p>\n","protected":false},"author":1,"featured_media":559930,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7350],"tags":[204,726,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-559929","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-banking","tag-banque-du-caire","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"e917de03-0183-4575-b29f-4c7e14f5ef28","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/2\/152.jpg","photo_position":"above","related_issue":[559920],"teaser":"","voice_url":""},"yoast_head":"\nMarked safe from covid: Banque du Caire\u2019s loan book - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/09\/marked-safe-from-covid-banque-du-caires-loan-book\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Marked safe from covid: Banque du Caire\u2019s loan book\" \/>\n<meta property=\"og:description\" content=\"State-owned Banque du Caire (BdC) hasn\u2019t seen a large rise in defaults despite covid-19, according to figures given by Chairman Tarek Fayed in an interview with the local press this week. 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The app is currently available for Android users, and will be available for iOS soon. BdC Chairman and CEO Tarek\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":576401,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/23\/talks-of-banque-du-caire-ipo-premature-sources\/","url_meta":{"origin":559929,"position":3},"title":"Talks of Banque du Caire IPO \u201cpremature\u201d -sources","author":"enterpriseam admin","date":"23 November 2020","format":false,"excerpt":"IPO WATCH- Talk of when Banque du Caire (BdC) might reschedule its IPO on the EGX are \u201cpremature\u201d in light of the emergence of a global second wave of covid-19, Masrawy reports, citing unnamed sources close to the matter. Speaking to the newspaper from the Department of the Obvious, the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594619,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/al-yosr-group-to-borrow-egp-1-1-bn-from-three-banks\/","url_meta":{"origin":559929,"position":4},"title":"Al Yosr Group to borrow EGP 1.1 bn from three banks","author":"enterpriseam admin","date":"2 September 2019","format":false,"excerpt":"Al Yosr Group has signed loan agreements with Banque du Caire (BdC), Suez Canal Bank (SCB) and the Industrial Development Bank (IDB) for a combined EGP 1.1 bn, sources told Al Shorouk. Al Yosr will borrow EGP 800 mn from BdC, EGP 200 mn from SCB and EGP 100 mn\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":658280,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/09\/banque-du-caires-privatization-push-gains-new-momentum\/","url_meta":{"origin":559929,"position":5},"title":"Banque du Caire\u2019s privatization push gains new momentum","author":"enterpriseam admin","date":"9 January 2025","format":false,"excerpt":"We could see a stake sale as soon as 1H 2025","rel":"","context":"In "Privatization"","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1735.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/559929","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=559929"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/559929\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/559920"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/559930"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=559929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=559929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=559929"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=559929"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=559929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}