Arab Finance: Egyptian Gulf Bank (EG Bank) (EGBE) recorded a 70% year-on-year (YoY) increase in consolidated profit during the first nine months of 2023, according to financial indicators filed to the Egyptian Exchange (EGX) on November 13^th.

The company’s consolidated profit after tax rose to EGP 1.056 billion in nine months to September 30th from EGP 621.488 million a year earlier.

Interest income grew to EGP 2.652 billion in January-September from EGP 2.165 billion the year before.

Furthermore, standalone net profit after tax rose to 1.046 billion from January to the end of September from EGP 624.615 billion during the same period last year.

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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