Arab Finance: Egyptian Gulf Bank (EG Bank) (EGBE) recorded a 74.6% year-on-year (YoY) increase in consolidated net profits after tax and non-controlling interest during 2023, according to the audited financial statement filed to the Egyptian Exchange (EGX) on January 23^rd.

The company’s consolidated profit after tax rose to EGP 1.477 billion in 2023 from EGP 845.831 million a year earlier.

Net interest income grew to EGP 3.66 billion last year from EGP 3.043 billion in 2022.

Moreover, standalone net profits after tax surged to EGP 1.414 billion in 2023, up from EGP 855.526 million over 2022.

Meanwhile, standalone net interest income rose to EGP 3.649 billion from EGP 3.04 billion.

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

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