saib's Net Profits Grow by 29%, recording EGP 962.5 Mn during 2023

Unaudited financial statements of saib, for the period ending on December 31, 2023, revealed an increase in its net profits by 29% during the last year to record EGP 962.5 mn (equivalent to $31.156 mn) during 2023. Compared to EGP 746.137 mn (equivalent to $30.155 mn) during 2022.

The bank's pre-tax profit also witnessed a growth of 32%, amounting to an increase of EGP388mn during the last year, recording EGP1.585 bn (equivalent to $51.301 mn) At  2023. This is compared to EGP 1.197 bn (equivalent to $48.396 mn) during 2022.

Interest revenues surged by 33%, totaling EGP12.482 bn (equivalent to $404.039 mn) in during 2023. This is in comparison to EGP 9.396 bn (equivalent to $379.725 mn) during 2022, marking an increase of EGP3.086bn.