Ebank’s consolidated profits surge 95% YoY in Q1

Updated 5/20/2024 12:35:00 PM
Ebank’s consolidated profits surge 95% YoY in Q1

Arab Finance: Export Development Bank of Egypt (EBank) has reported a 95.3% year-on-year (YoY) climb in consolidated profits after tax and minority interest during the first quarter (Q1) of 2024, according to the lender’s financial statement.

The bank’s consolidated profits excluding minority interest rose to EGP 1.087 billion in Q1 2024 from EGP 556.538 million in Q1 2023.

Meanwhile, net interest income surged to EGP 1.972 billion in the three-month period ended March 31st from EGP 1.166 billion in the same period a year earlier.

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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