ALEXBANK’s profits surge 78% YoY in Q1 2024

Updated 5/15/2024 10:35:00 AM
ALEXBANK’s profits surge 78% YoY in Q1 2024

Arab Finance: ALEXBANK achieved a 78.18% year-on-year (YoY) increase in net profits after tax during the first quarter (Q1) of 2024, recording EGP 2.1 billion, according to an emailed press release.

Operating income soared 61.74% YoY to EGP 4.5 billion in the three months to March 31st, while operating costs rose 18.08% YoY to EGP 1 billion.

The bank’s total capital amounted to EGP 19.6 billion in Q1 2024.

Total customers’ deposits recorded EGP 143.3 billion at the end of March, up by 7.5% from the end of December 2023.

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