Saib’s net profits increased by 14%, reaching EGP588.4 mn At 9M-2023

The unaudited financial statements revealed a growth in net profits after tax by 14%, with an increase of EGP70.7 mn, totaling EGP588.4 mn in the first 9 months of 2023, compared to EGP517.7 mn during the same period in 2022.

Profit before tax grew by 28%, with an increase of EGP 209.3 mn, reaching EGP969.9 mn in the first 9 months of 2023, compared to EGP 760.3 mn in the same period the previous year.

Interest revenues rose by 62%, with an increase of EGP3.45 bn, totaling EGP8.980 bn in the first 9 months of 2023, compared to EGP5.534 bn during the same period in 2022.

The basic earnings per share increased by 15% during the first 9 months of the current year, recording EGP17.92 pounds in 2023, compared to EGP15.64 pounds in the same period of 2022.

In terms of the bank’s independent financial position, the total portfolio of bank deposits increased by 17.32%, with an increase of EGP12.64 bn in the first 9 months of the current year, reaching EGP85.65 bn by the end of September 2023, compared to EGP73.01 bn at the end of December 2022.

Total portfolio of loans and facilities for clients and banks at Saib grew by 12.1%, with an increase of EGP 5.06 bn in the first 9 months of the current year, reaching EGP46.93 bn by the end of September 2023, compared to EGP 41.87 bn at the end of December 2022.

Total equity jumped by 37%, with an increase of approximately EGP3.14 bn in the first 9 months of the current year, reaching EGP 11.63 bn by the end of September 2023, compared to EGP 8.49 bn at the end of December 2022.