saib’s net profits jump by 118%, recording EGP 1.28 bn during 9M-2024
First Bank
The financial results of saib, for the period ending on September 30, 2024, revealed an increase in its net profits by 118% to record approximately EGP 1.28 bn during the first 9 months of 2024. Compared EGP 588.4 mn during the same period in 2023.
The bank's pre-tax profit also witnessed a growth of 88%, recording EGP1.82bn during 9M- 2024. compared to EGP 969.62mn during the same period of 2023, an increase of EGP 850.3mn.
Total equity jumped by 54%, with an increase of approximately EGP6.7bn during the first 9 months of the current year, reaching EGP 19bn by the end of September 2024, compared to EGP 12.3 bn at the end of December 2023.
Regarding the bank's financial position, saib's customer deposits portfolio rose to EGP 116.7 bn by the end of September 2024, compared to EGP 85.2 bn by the end of 2023, with a growth rate of 37%.
Total portfolio of loans and facilities for customers at saib grew by 46.3%, reaching EGP69bn by the end of September 2024, compared to EGP 47.2 bn at the end of December 2023.
