Arab Finance: Egyptian Gulf Bank (EG Bank) (EGBE) recorded a 75% year-on-year (YoY) increase in consolidated net profits after tax during 2023, according to the financial indicators filed to the Egyptian Exchange (EGX) on January 9^th.

The company’s consolidated profit after tax rose to EGP 1.483 billion in 2023 from EGP 845.831 million a year earlier.

Interest income grew 46% YoY to EGP 12.011 billion last year from EGP 8.234 billion.

Furthermore, standalone net profits after tax rose to EGP 1.414 billion in 2023, up 65% from EGP 855.526 million over 2022.

EG Bank is engaged in the provision of corporate, retail, and investment banking services through a network of 16 branches located across Egypt.

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