about Us

Branches

Statistics

Services

news

AUDITORS REPORT

AUDITORS REPORT

We have audited the Balance Sheet of Banque Du Caire (an Egyptian Joint-Stock Company) as at 30th June 1998 and the Profit and Loss and Current Transactions Accounts for the year ended on that date.

We have also examined ample summaries of the activity of the branches which we have not visited and have obtained all the information and explanations to the extent which we have deemed necessary for the purpose of our audit. We have verified the existence and valuation of the bank's assets and outstanding liabilities in line with accepted accounting principles. Figure of the Bank's Gulf Branches are included in the consolidated Balance Sheet of the Bank.

We have also verified the existence and valuation of the Bank's assets and outstanding obligations in accordance with the accepted accounting standards.

We have not found any violation by the Bank of the provisions of the Law No. 163 for 195' and legislation amending it. In our opinion the Bank keeps proper books of accounts containing all the information required both by the law and by the statutes of the Bank to be records therein, and the Balance Sheet and Profit and Loss and Current Transactions Accounts are conformity with the said books.

The Balance Sheet and the explanations annexed thereto give a true and fair view of the real financial position of the Bank as at 30th June 1997 while the Profit and Loss and Current Transactions Accounts give a true and fair view of the Bank's net profit for the year eb in that date.

The financial information contained in the Board of Directors' Report as required by Law l-' for 1981 and the Executive Regulation thereof are in conformity with the Bank's books and records to the extent that such information is normally recorded therein.

CAIRO ON 28. DEC. 1997