EBank’s profits soar 85% YoY in Q1
Updated 5/22/2023 9:31:00 AM
Arab Finance: Export Development Bank of Egypt (EBank) has reported an 85.04% year-on-year (YoY) climb in consolidated profit attributable to the parent company during the first quarter (Q1) of 2023, according to the lender’s financial statements filed to the Egyptian Exchange (EGX) on May 22nd.
The bank’s consolidated profit excluding minority interest rose to EGP 556.538 million in Q1 2023 from EGP 300.763 million in Q1 2022.
Meanwhile, net interest income surged to EGP 1.166 billion in the three-month period ended March 31st from EGP 573.188 million in the same period a year earlier.
As for standalone financial results, the lender’s net profit after tax soared to EGP 501.799 million in the January-March period of 2023 from EGP 288.381 million in Q1 2022.
EBank is an EGX-listed bank that offers banking and financial services, which encourage the export activities of the agricultural, industrial, commercial, and services sectors.
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