saib continues to lead Egyptian banks in Fastest shareholders' Equity growth in H1- 2023

saib topped First Bank list of fastest-growing banks in total shareholders' Equity ownership during the first half of this year, with its portfolio jumping by about 34.4%, reaching EGP11.41 bn by the end of June 2023, compared to EGP8.49 bn by the end of 2022, an increase of EGP2.93 bn.

saib maintained its lead among Egyptian banks in the speed of shareholders' Equity growth, having previously held the first position on the same list but faced challenges in 2022.

The bank has performed well this year, ranking first on First Bank list of fastest-growing listed banks in syndicated loans during the first half of 2023. Its portfolio increased by 17.25%, reaching EGP13.71 bn by the end of June 2023, compared to EGP 11.69 bn by the end of 2022.

Additionally, it secured the second position on First Bank list of fastest-growing listed banks in corporate deposits during the first 6 months of this year, with its corporate deposits portfolio increasing by 19.53%, reaching EGP59.8 bn by the end of June 2023, compared to EGP50.03 bn in 2022.

Furthermore, it also claimed the second position on First Bank list of fastest-growing listed banks in total financial investments and treasury bills during the first half of this year, with a growth rate of 29.35%. Its total portfolio of financial investments and t-bills reached approximately EGP29.1 bn by the end of June 2023, compared to EGP22.5 bn by the end of 2022.

In terms of assets, it ranked third on First Bank list of fastest-growing listed banks during the first 6 months of this year, with its total assets increasing by 21.54% and reaching EGP105.1 bn by the end of June 2023, compared to EGP86.5 bn by the end of 2022.

Additionally, it secured the third position on First Bank list for the best listed banks in terms of deposit employment for lending purposes by the end of June last year, with a emoloyment rate of 55.81%. This followed an increase in its total customer loan portfolio to EGP46.777bn by the end of June 2023, while its deposit portfolio amounted to approximately EGP83.818 bn during the same period.

saib also achieved good profits this year, with the bank's net profits increasing by 24.5% and reaching EGP 375 mn during the first half of 2023, compared to EGP301 mn during the same period in 2022.

Net income from returns jumped to EGP2.07 bn during the first half of 2023, compared to EGP 1.26 bn during the same period in 2022, with a growth rate of 64.48% and an increase of EGP813.3 mn.

Net fees and commissions income also increased by approximately 31.69%, reaching EGP269.66 mn during the first 6 months of 2023, compared to EGP 204.8 mn during the same period in 2022.

Additionally, customer deposit portfolio increased by about 14.81%, reaching EGP 83.8 bn by the end of the first half of 2023, compared to EGP73 bn by the end of 2022, with an increase of EGP 10.8 bn.

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