EGBank’s net profit jumps 23.2% during H2-22, recording EGP 446.1mn

Egyptian Gulf Bank -EGBANK revealed that its net profit increased by 23.32%, to record EGP 446.1 million the second half of 2022 in comparison to EGP 361.7 million during the same period in 2021; an increase of EGP 84.4 million, according to its financial results published on the Egyptian stock exchange official website.

The bank's net profit increased during the past year by 22.98% to record EGP 855.5m in 2022 in correspondence to EGP 695.7m in 2021. While, the pre-taxes profit jumped by 4.12% to stand at EGP 1.617 billion in 2022, compared to EGP 1.553 billion in 2021.

However, EG-Bank’s asset portfolio increased by a growth rate of 8.13% over the past year, to record EGP 86.7bn at the end of last December, compared to EGP 80.2bn at the end of December 2021; an increase of EGP 6.5bn.

Furthermore, the  bank’s deposit portfolio increased from EGP 64.4 billion at the end of December 2021 to EGP 71.7 billion at the end of December 2022, achieving a growth rate of 11.33%, and an increase of EGP 7.3 billion.

Moreover, total loans and facilities to customers jumped by 14.38% over the past year, to record EGP 28.45 billion at the end of December 2022, compared to EGP 24.87 billion at the end of December 2021, achieving an increase of EGP 3.58 billion.