EGBANK's Net Profits jump 60.44%, recording EGP 657 mn in H1-2023

The separate financial statements of Egyptian Gulf Bank-EGBANK, ending on June 30 of the current year, revealed an increase in the bank's net profits, with a growth rate of 60.44% to record EGP 656.948 mn during the first 6 months of the current year, compared to EGP 409.467 mn during the same period of 2022, an increase of EGP 247.481 mn .

Pre-tax profit soared by 41.53%, reaching EGP 1.085 bn during the first half of 2023, compared to EGP 766.6 mn during the first half of 2022, marking an increase of EGP 318.3 mn.

The bank's total assets witnessed a growth rate of 20.03%, with an increase of EGP 17.4 bn during the first half of the current year, reaching EGP 104.1 bn by the end of June 2023, compared to EGP 86.7 bn by the end of December 2022.

Furthermore, the bank succeeded in increasing the total portfolio of customer deposits by EGP 6.9 bn, growing at a rate of 9.55% during the first half of the current year, amounting to EGP 78.6 bn by the end of June 2023, compared to EGP 71.7 bn by the end of December 2022.