Saib tops fastest growing listed bank in financial investments At 9M-2023
First Bank
Saib tops First Bank list of listed banks showing the fastest growth in total financial investments and t-bills during the first 9 months of the current year, rising from the eighth position in 2022.
The total financial investments and t-bills grew by a growth rate of 47.26%, as its portfolio reached EGP 33.106 bn by the end of September 2023, compared to EGP22.482 bn by the end of December 2022.
Saib is performing well this year, with its net profits rising to EGP589.67 mn during the first 9 months of 2023, compared to EGP519.19 mn during the same period in 2022, with a growth rate of 13.57% and an increase of EGP70.48 mn.
The bank’s asset portfolio increased by approximately 24.11%, reaching EGP 107.33 bn by the end of the third quarter of 2023, compared to EGP 86.48 bn by the end of 2022, with an increase of EGP 20.85 bn.
Customer deposits rose from EGP73.01 bn at the end of 2022 to EGP 85.65 bn by the end of September 2023, with a growth rate of 17.32% and an increase of EGP12.65 bn.
Total loans to the bank’s customers jumped by about 10.98%, reaching EGP46.47 bn by the end of September 2023, compared to EGP 41.87 bn by the end of 2022, with an increase of EGP 4.6 bn.
