Arab Finance: Egyptian Gulf Bank (EG Bank) posted a 65.32% year-on-year (YoY) increase in consolidated net profit after tax for the first half (H1) of 2023, according to the financial indicators filed to the Egyptian Exchange (EGX) on August 14^th.

The bank’s consolidated net profit after tax stood at EGP 672.257 million in H1 2023, compared to a profit of EGP 406.629 million in the same half of 2022.

Net interest income hit EGP 1.768 billion during the January-June period of this year, up from EGP 1.365 billion in the first six months of 2022.

Moreover, the bank’s standalone net profit after tax jumped by 60.44% YoY in H1 2023 to EGP 656.948 million from EGP 409.467 million.

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

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