saib retail deposits grow by 24.9%, recording EGP 30.4 bn by March 2024 End

The financial statements of saib, ending on March 31, 2024, revealed that retail deposit portfolio of saib rose with a growth rate of 24.85% during the first quarter of the current year, reaching EGP 30.43 bn (equivalent to USD 645mn) by the end of March 2024 Compared to EGP 24.37 bn (equivalent to USD 2.019bn) by the end of December 2023, with an increase of EGP 787mn, Retail deposits portfolio has taken hold of 29.15% share of the total deposit portfolio during Q1- 2024.

Total corporate deposit portfolio surged by 21.33% and an increase of EGP13Bn during the first 3 months of this year. To record EGP 73.98 bn (equivalent to USD 1.567bn) by the end of March 2024, compared to EGP 60.98 bn (equivalent to USD 1.970bn) at the close of December 2023, constituting 70.85% of the bank's deposit portfolio.

The size of the “time and notice deposits” portfolio rose by 18.23%, reaching EGP 71.62 bn (equivalent to USD 1.517 bn) by the end of March 2024, compared to EGP 60.57 bn bn (equivalent to USD 1.957 bn)  by the end of December 2023.

It is worth noting that the total customer deposit portfolio of the bank exhibited a growth rate of 22.33%, reflecting an increase of EGP 19.06 bn during the first quarter of this year. To record EGP 104.41 bn (equivalent to USD 2. 11bn) by the end of March 2024, up from EGP 85.35 bn (equivalent to USD 2.76bn) at the end of December 2023.