saib grows by 50.3% on the First Bank composite growth index in 2024

saib periodic financial statements, which ended on December 31, revealed the bank's composite growth of 50.32% on the First Bank Index over the past year.

This rate was measured by a composite index developed by First Bank to measure banks' financial performance by one digit, across all branches of activity that include net profits, deposit portfolio, loan portfolio and asset portfolio, during 2024.

The Bank was able to achieve positive results in its four sub-indicators of the "First Bank" index, primarily net profit, which accounted for the largest proportion of its activity growth at 81.29%, registering 1.745 billion pounds (equivalent to $34.322 million) in 2024, compared to 962.504 million (equivalent to $31.155 million) in 2023.

The bank's total portfolio of loans and facilities represented the second contributor to this growth, having risen by 42.76% over the past year, to 65.928 billion pounds (equivalent to $1.296 billion) by the end of 2024, compared to 46.180 billion (equivalent to $1.494 billion) by the end of 2023.

The Bank's total asset portfolio also contributed to this growth by 39.34% over the past year, registering 150 billion pounds (equivalent to $2.950 billion) by the end of 2024, compared to 107.651 billion (equivalent to $3.484 billion) by the end of 2023.

The bank's total customer deposit portfolio rose by 37.90% over the past year, registering 117.451 billion pounds (equivalent to $2.310 billion) by the end of 2024, compared to 85.169 billion (equivalent to $2.756 billion) by the end of 2023.