SAIB Bank Delivers Strong Q1 2025 Results With EGP 51Bn In Local Currency Loans

(MENAFN- Daily News Egypt) SAIB Bank posted robust financial results for the first quarter of 2025, with its local currency loan portfolio rising to EGP 51bn in March-an increase of 17%, or EGP 8bn, from EGP 43bn at the close of 2024. Local currency deposits also saw healthy growth, climbing 13% to EGP 83bn from EGP 74bn.

In a statement, the bank reported total revenues of EGP 1.979bn (approximately $39.1m), while net profits stood at EGP 390m (around $7.7m) for the quarter. Management attributed the solid performance to the coordinated efforts of the bank's business lines and support functions.

SAIB Bank credited its continued growth to a strategic focus on expanding key areas such as retail banking, corporate credit, and SME financing.

The bank also pointed to signs of macroeconomic recovery in Egypt during the first quarter. This rebound was aided by a slowdown in inflation-driven by base effects and improved foreign exchange liquidity-as well as ongoing financial and technical support from the International Monetary Fund (IMF) and other global partners.

These favorable conditions, the bank noted, have helped restore investor confidence, prompting international credit rating agencies to upgrade Egypt's sovereign outlook. This improvement laid the groundwork for the Central Bank of Egypt (CBE) to begin a monetary easing cycle, with interest rate cuts aimed at boosting lending and encouraging private-sector-led growth.

Despite these positive developments, the bank acknowledged ongoing risks, including persistent global geopolitical tensions and the rise of protectionist trade policies, which could challenge the pace of Egypt's economic recovery in the coming months.

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