saib get many top positions on the fastest growing listed banks’ lists in Egypt during Q1-2024

saib has achieved a strong performance during this year, pushing it to top many of the fastest-growing listed banks rankings in the first quarter of 2024, supported by the efforts of Afdal Naguib, Chief Executive Officer of the Bank.

The Bank topped First Bank list of the fastest growing listed banks in net profits at a growth rate of 238%, after achieving a net profit of EGP 581 mn in the first quarter of 2024, compared to EGP 172 mn in the same period of 2023.

It also ranked first on the First Bank list of the fastest growing listed banks in shareholder’s equity during the first quarter of this year, with a growth rate of 44.70%, as its portfolio jumped to EGP 17.90 bn by the end of March 2024, compared to EGP 12.37 bn by the end of December 2023.

The Bank was also able to take first place on the list of the fastest growing listed banks in net interest income during the first 3M of this year, following a rise of 92.96%, to reach EGP 2.01 bn, compared to EGP 1.04 bn during the corresponding period from 2023.

saib's top First Bank composite growth index for the fastest-growing listed banks during the first 3M of this year, with a composite growth rate of 77.89%, driven by net profit growth that jumped by 238%, and total portfolios of assets, loans and deposits of customers rising by 27.39%, 23.80% and 22.34% respectively during Q1 of 2024. 

While it was able to clinch second place, on the First Bank list of the fastest growing listed banks in total customer loans during the first quarter of this year, with a growth of 23.80%, following the rise of its portfolio to EGP 57.29 bn by the end of March 2024, compared to EGP 46.28 bn by the end of December 2023.

The Bank was also able to finish second on the First Bank list of the fastest growing listed banks in assets during the first quarter of this year, with its portfolio jumping by 27.4%, reaching EGP 137.4 bn by the end of March 2024, compared to EGP 107.9 bn by the end of December 2023.

saib also ranked second on the First Bank list of the fastest growing banks in corporate loans during the first quarter of this year, after its portfolio rose by 27.07%, reaching EGP 42.71 bn by the end of March 2024, compared to EGP 33.61 bn by the end of December 2023. In addition, it was able to clinch second place on the First Bank list of the fastest-growing listed banks on retail deposits during the first quarter of this year, with a growth rate of 24.85%, following its portfolio's rise to EGP 30.43 bn by the end of March 2024, compared to EGP 24.37 bn by the end of December 2023.

Furthermore, it ranked Second on First Bank list of the fastest growing listed banks in net fees and commissions income in the first 3M of 2024, with a growth of 74.17%, after achieving EGP 274.8 mn in the first quarter of this year, compared to EGP 157.7 mn in the first quarter of 2023.

saib also finished second on the First Bank list of the fastest growing listed banks in syndicated loans during the first quarter of this year, due to its portfolio rising by 43.21% to reach EGP 19.91 bn by the end of March 2024, compared to 13.90 bn by the end of December 2023.

It is expected that if this strong performance by saib continues, it will make significant progress in its performance and activities, as well as a significant jump in its market share in the coming years.