saib tops the fastest growing banks in retail deposits during 9M-2024
saib achieved record growth in its portfolio of retail deposits during the first 9 months of this year, jumping by 56.81%, to 38.195 billion pounds by the end of September 2024, compared to 24.357 billion pounds by the end of 2023, with an increase of 13.837 billion pounds.
This significant performance led to saib topping the "First Bank" list of the fastest growing banks in retail deposits during the first 9 months of 2024, compared to 17th place during the same period in 2023.
The bank also managed to achieve good growth in its portfolio of corporate deposits as well, rising by 29% during the first 9 months of this year after reaching 78.49 billion pounds by the end of September 2024, compared to 60.94 billion pounds by the end of December 2023, with an increase of 17.55 billion pounds.
Overall, saib achieved a strong performance during this year, rising its net profit to 1.3 billion pounds in the first 9 months of 2024, compared to 588.4 million pounds in the same period from 2023, with a growth of 117.91% and an increase of 693.8 million pounds.
The bank's portfolio of assets jumped by 37.99% during the first 9 months of this year, registering 148.8 billion pounds by the end of September 2024, compared to 107.8 billion pounds by the end of 2023, with an increase close to 41 billion pounds.
Customer deposit portfolio climbed to 116.7 billion pounds by the end of September 2024, compared to 85.2 billion pounds by the end of 2023, with a growth rate of 37% and an increase of 31.5 billion pounds.
The Bank's total customer loans rose by 41.7% in the first 9 months of this year, registering 65.5 billion pounds by the end of September 2024, compared to 46.2 billion pounds by the end of 2023.