EGBANK’s net profit grows by 88%, recording EGP 1.2 bn during H1- 2024
First Bank
The separate financial statements of the Egyptian Gulf Bank "EGBANK", announced just ago on the official website of the Egyptian Stock Exchange, revealed that the Bank's net profit rose by 87.84% during the first half of this year, registering EGP 1.234 bn, compared to 657 mn during the first half of 2023, with an increase of EGP 577 mn.
The Bank's pre-taxes profit rose by 76.03% and an increase of EGP 824.9 mn during the first half of the current year, registering EGP 1.910 bn 2024, compared to 1.085 bn during the same period in 2023.
In terms of the Bank's financial position, the volume of the asset portfolio increased by 42% and an increase of EGP 41 bn during the first half of this year, from EGP 138.5 bn by the end of June 2024, to 97.5 bn by the end of December 2023.
The volume of the Bank's customer deposit portfolio jumped by 43% during the first half of this year, exceeding EGP 116 bn by the end of June 2024, compared to 81.1 bn by the end of December 2023, with an increase of EGP 34.9 bn.
The Bank’s total customer loans increased by 24.14% and an increase of EGP 8.1 bn during the first half of this year, reaching EGP 41.9 bn by the end of June 2024, compared to 33.7 bn by the end of December 2023.
