saib’s loans to deposit ratio increased to 54.87% by March 2024end

The financial statements of saib, ending on March 31 of the current year, revealed an increase in loans to deposits ratio marginally, recording 54.87% by the end of March 2024, compared to 54.22% by the end of December 2023.

The bank witnessed strong performance in its key indicators, The Bank's deposit portfolio increased by 22.23%, an increase of EGP 19.06bn in the first 3 months of the current year, totaling EGP 104.41 bn by the end of March 2024, compared to EGP 85.35 bn by the end of December 2023.

The bank increased credit issuance to its customers by approximately EGP11.01bn during the first quarter of the current year, Total financing and facilitation for customers reaching EGP 57.29 bn by the end of March 2024, compared to EGP 46.28 bn by the end of December 2023.

On the financial position front, the bank achieved a growth rate of 27.39%, with an increase of EGP 29.55bn during the first 3 months of the current year, recording total assets around EGP 137.43 bn by the end of March 2024, compared to EGP 107.88 bn by the end of December 2023.

saib’s net profits jumped by 238%, with an increase of EGP409mn, registering EGP 580.75mn during Q1- 2024, compared to EGP 171.80 mn during the same period of 2023.