(MENAFN- Daily News Egypt) saib Bank achieved pre-tax profits equivalent to EGP 603.169m in 1H 2023, compared to the equivalent of EGP 458.074m in 1H 2022, a growth rate of 32%.
A summary of the bank's business results, sent to the Egyptian Exchange on Tuesday, revealed that the bank achieved a net profit after tax equivalent to EGP 374.934m in June 2023, compared to the equivalent of EGP 300.939m in June 2022, a growth rate of 25%.
The saib Bank's budget is in dollars, and the bank set the dollar exchange rate at EGP 30.8969 in June 2023, compared to EGP 18.8028 in June 20222.
According to the bank, interest revenues recorded the equivalent of EGP 5.762bn in 1H 2023, compared to the equivalent of EGP 3.472bn in June 2022, an increase of 66%, while interest expenses recorded the equivalent of EGP 3.692bn compared to the equivalent of EGP 2.214bn, an increase of 67%.
Total customer deposits at saib Bank increased by 15% in 1H 2023, to reach the equivalent of EGP 83.651bn compared to the equivalent of EGP 72.883bn in 2022, while total loans to banks and customers increased by 13% to reach the equivalent of EGP 47.147bn compared to the equivalent to EGP 41.798bn.
The paid-up capital of the bank amounted to the equivalent of EGP 4.866bn in June 2023, compared to the equivalent of EGP 3.897bn in December 2022, an increase of 25%, while the total equity amounted to the equivalent of EGP 11.389bn compared to the equivalent of EGP 8.472bn, an increase of 34%.
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