saib was able to achieve outstanding performance over the past year, pushing it to top First Bank list for the

Analysis

saib tops fastest growing banks list in net fees and commissions income

5/17/2023 9:39:00 AM

saib was able to achieve outstanding performance over the past year, pushing it to top First Bank list for the fastest growing banks in net fees and commissions income, after it increased by 79.54% during 2022.

Net fees and commissions income jumped to EGP542.91 mn in 2022, compared to EGP302.4 mn in 2021, an increase of EGP240.52 mn.

Moreover, the bank's fees and commission revenues achieved EGP795.20 mn in 2022, compared to EGP480.83 mn in 2021, with a growth rate of 65.38%, and an increase of EGP314.38 mn.

Due to the increase in fees and commissions related to credit by about 76.07%, recording EGP640.11 mn in 2022, compared to EGP363.55 mn in 2021, an increase of EGP 276.56 mn.

Other fees income also increased to EGP 141.1 mn in 2022, compared to EGP94.72 mn in 2021, a growth rate of 48.96%, and an increase of EGP 46.37 mn.

While fees and commission revenues were not affected by the decline in custodial fee, as they recorded EGP13.99 mn in 2022, compared to EGP22.55 mn in 2021.

fees and commission expense rose to EGP252.29 mn in 2022, compared to EGP178.43 mn in 2021, bringing net fees and commissions incime to EGP542.91 mn over the past year.