saib tops Banks in focusing on investing in syndicated loans

saib was at the top of First Bank list of banks in focusing on syndicated loans by the end of September 2024, where the syndicated loans accounted for 30.87% of its total portfolio of customer loans by the end of the same period.

The bank's portfolio of syndicated loans and facilities jumped by 45.57% and an increase of Pound6.33 billion over the first 9 months of last year, recording Pound20.23 billion by the end of September 2024, compared to Pound13.89 billion by the end of December 2023.

Overall, saib achieved a strong performance over the past year, rising its net profit to 1.3 billion pounds during the first 9 months of 2024, compared to 588.4 million pounds during 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 last year, registering 148.8 billion pounds by the end of September 2024, compared with 107.8 billion pounds by the end of 2023, an increase of 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 loans to customers rose by 41.7% in the first 9 months of last year, registering 65.5 billion pounds by the end of September 2024, compared to 46.2 billion pounds by the end of 2023.