saib tops listed banks in focusing on investment in syndicated loans by the end of 2024

saib was at the top of the list of "First Bank" banks listed on the Egyptian Stock Exchange (EGX) most focused on syndicated loans by the end of 2024, accounting for 31.90% of its total portfolio of customer loans  by the end of the same year.

The bank's  syndicated loans and facilities portfolio jumped by 51.60% over the past year, reaching EGP 21.033 bn by the end of 2024, compared to EGP 13.874 bn by the end of 2023.

Overall, saib achieved a strong performance over the past year, with net profits jumping by 81.29% over the past year, reaching EGP 1.74 bn in 2024, compared to EGP 962.50 mn in 2023, with an overall increase of EGP 78.243 mn.

Net interest income rose to EGP 7.09 bn in 2024, compared to EGP 4.43 bn in 2023, with a growth rate of 59.93% and an increase of EGP 2.66 bn.

Net fees and commissions income jumped by 92.80% over the past year, reaching EGP 1.06 bn in 2024, compared to EGP 550.97 mn in 2023.

In terms of the bank's financial position, its portfolio of assets rose by about 39.34% over the past year, reaching EGP 150 bn by the end of 2024, compared to EGP 107.65 bn by the end of 2023, representing an overall increase of EGP 42.35 bn.

Customers deposit portfolio climbed to EGP 117.45 bn by the end of 2024, compared to EGP 85.17 bn by the end of 2023, with a growth rate of 37.90% and an increase of EGP 32.28 bn.

The bank's total customer loans  rose by EGP 19.75 bn last year, reaching EGP 65.93 bn by the end of 2024, compared to EGP 46.18 bn by the end of 2023, with a growth rate of 42.76%.

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