saib tops fastest growing listed Banks in Egypt during Q1-2024

saib achieved a strong performance, pushing it to top the First Bank composite growth index for the fastest-growing listed banks during the first quarter of this year, with a composite growth rate of 77.89%, up from the tenth place on the same list in the year 2023.

This strong performance is driven by the significant growth achieved by the Bank in net profits, jumping 238%, registering about EGP 581 mn in the first quarter of 2024, compared to EGP 172 mn in the same period from 2023.

The assets also played an important role in the Bank's leading the First Bank Composite Growth Index for the fastest-growing listed banks in the first quarter of this year, rising by about 27.4% in the first quarter of this year, registering EGP 137.4 bn by the end of March 2024, compared to EGP 107.9 bn by the end of December 2023.

The Bank's loans was the third contributor to this growth, with the growth of the Bank's total customer loans rising by 23.8% in the first quarter of this year, recording EGP 57.3 bn by the end of March 2024, compared to EGP 46.3 bn by the end of 2023.

The Bank's total customer deposits portfolio increased by 22.3% in the first quarter of this year, to EGP 104.4 bn by the end of March 2024, compared to EGP 85.3 bn by the end of 2023.

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