saib corporate deposits grow by 22%, recording EGP 60.9 bn by end of 2023
First Bank
The financial statements of saib, ending on December 31, 2023, revealed that corporate deposit portfolio of saib rose with a growth rate of 21.88% during the last year, reaching EGP 60.96 bn (equivalent to USD 1.970bn) by the end of December 2023 Compared to EGP 50.03 bn (equivalent to USD 2.019bn) by the end of December 2022, with an increase of EGP 10.94Bn.
corporate deposits portfolio has taken hold of 71.44% share of the total deposit portfolio during 2023.
Total retail deposit portfolio surged by 6.9% and an increase of EGP1.40Bn during the last year. To record EGP 24.37 bn (equivalent to USD 787 mn) by the end of December 2023, compared to EGP 22.97 bn (equivalent to USD 927mn) at the close of December 2022, constituting 28.56% of the bank's deposit portfolio.
The size of the “time and notice deposits” portfolio Jumps by 37.13%, reaching EGP 60.40 bn (equivalent to USD 1.96 bn) by the end of December 2023, compared to EGP 44.17 bn bn (equivalent to USD 1.782 bn) by the end of December 2022.
It is worth noting that the total customer deposit portfolio of the bank exhibited a growth rate of 16.9%, reflecting an increase of EGP 12.65 bn during the last year. To record EGP 85.35 bn (equivalent to USD 2.76bn) by the end of December 2023, up from EGP 73.01 bn (equivalent to USD 2.946bn) at the end of December 2022.
