saib tops the fastest-growing banks in net fees and commissions income during 9M-2024

saib leads First Bank's list of the fastest growing banks in net fees and commissions income during the first 9M of this year, with a growth rate of 109.76%, after registering 797.8 million pounds in the first 9 months of 2024, compared to 380.4 million pounds during the same period from 2023.

This significant performance led saib to top  the "First Bank" list of the fastest growing net income from fees and commissions during the first 9 months of 2024, compared to 20th place during the same period in 2023.

This was due to the rise in the Bank's fees and commissions income to 1.05 billion pounds by the end of September 2024, compared to 590.4 million pounds during the same period from 2023, with a growth of 77.8% and an increase of 459.1 million pounds.

Although fee and commission income rose to 251.7 million pounds during the first 9 months of 2024, compared to 210 million pounds during the same period from 2023, with a growth rate of 19.81% and an increase of 41.6 million pounds.

Overall, saib achieved a strong performance during this year, rising its net profit to 1.3 billion pounds in the first 9 months of 2024, compared to 588.4 million pounds in the same period from 2023, a growth of 117.91% and an increase of 693.8 million pounds.

The bank's portfolio of assets jumped by 37.99% during the first 9 months of this year, registering 148.8 billion pounds by the end of September 2024, compared to 107.8 billion pounds by the end of 2023, an increase in contact with 41 billion pounds.

Customer deposit portfolio climbed to 116.7 billion pounds by the end of September 2024, compared to 85.2 billion pounds by the end of 2023, with a growth rate of 37% and an increase of 31.5 billion pounds.

The Bank's total customer loans rose by 41.7% in the first 9 months of this year, registering 65.5 billion pounds by the end of September 2024, compared to 46.2 billion pounds by the end of 2023.