saib Tops Egypt's Fastest-Growing listed Banks in Shareholders' Equity during H1-2023
First Bank
saib has emerged as the fastest-growing Listed banks in terms of shareholders' equity during the first Half of the current year, according to First Bank rankings. The bank's total shareholders' equity achieved a growth rate of 34.4%, recording EGP 11.4 bn by June 2023end, compared to EGP 8.49 bn at the end of 2022.
saib has achieved strong performance this year, with its net profits increasing by 24.5% to reach EGP 375 mn during H1 2023, compared to EGP 301 mn during the same period of 2022.
Net interest income reached EGP 2.07 bn during H1 2023, compared to EGP 1.3 bn in the same period of 2022, reflecting a growth rate of 64.5% and an increase of EGP 813.3 mn.
Net fees and commissions income rose to record EGP 269.66 mn by June 2023end, compared to EGP 204.8 mn in the corresponding period of 2022, showing a growth rate of 31.69%.
The bank's customer deposit portfolio jumped by 14.81%, reaching EGP 83.8 bn by the end of June 2023, compared to EGP 73 bn at the end of 2022, indicating an increase of EGP 10.8 bn.
In addition, The Bank's asset portfolio increased to EGP 105.1 bn by June 2023 End, compared to EGP 86.5 bn at the end of 2022, representing a growth rate of 21.54%.
