saib's corporate deposits jump by 108.5% last 4 years, reaching EGP 78.5 bn by September 2024-End

2/2/2025 4:08:09 PM

saib has been able to achieve record growth in its total corporate deposits over the last 4 years. The portfolio volume jumped by 108.5% and an increase of EGP 40.85 bn, recording the equivalent of EGP 78.49 bn by the end of September 2024, compared to 37.64 bn by the end of December 2020.

By tracking the portfolio growth journey over the period under analysis, saib has achieved growth of 21.90% and an increase of EGP 10.95 bn in its corporate deposits during 2023, recording a portfolio size of 60.94 bn by the end of December 2023.

The size of the Bank's corporate deposit portfolio also grew by 26.05% in 2022 to the equivalent of EGP 49.99 bn, while the growth of 5.37% in 2021 to record corporate deposits has the equivalent of EGP 39.66 bn by the end of December 2021.

Over the past year, the Bank achieved growth in the size of its corporate deposit portfolio by 28.81% and an increase of EGP 17.55 bn over the first 9 months of 2024, bringing the portfolio size to the equivalent of EGP 78.49 bn by the end of September, compared to 60.94 bn by the end of December 2023.

In general, saib had a strong performance over the past year, rising its net profit to EGP 1.3 bn in the first 9 months of 2024, compared to EGP 588.4 mn in the same period from 2023, with growth of 117.91% and an increase of EGP 693.8 mn.

The bank's assets portfolio jumped by 37.99% during the first 9 months of last year, registering the equivalent of EGP 148.8 bn by the end of September 2024, compared to 107.8 bn by the end of 2023, with an increase of EGP 41 bn.

The customer deposit portfolio rose to EGP 116.7 bn by the end of September 2024, compared to 85.3 bn by the end of 2023, with a growth rate of 37% and an increase of EGP 31.5 bn during the first 9 months of last year.

The Bank's total customer loans rose by nearly 41.7%, with an increase of EGP 19.28 bn over the first 9 months of last year, registering the equivalent of EGP 65.5 bn by the end of September 2024, compared to the equivalent of EGP 46.2 bn by the end of the 2023.