ALEXBANK’s profits surge 115% YoY in Q2 2024

Updated 8/18/2024 2:22:00 PM
ALEXBANK’s profits surge 115% YoY in Q2 2024

Arab Finance: ALEXBANK achieved a 115% year-on-year (YoY) increase in net profits after tax during the second quarter (Q2) of 2024, recording EGP 5.1 billion, according to an emailed press release.

Net income climbed by 63.9% YoY to EGP 9.8 billion in the three months to June 30th, while administrative costs rose 23.2% YoY to EGP 2.2 billion.

Total customers’ deposits recorded EGP 148.6 billion at the end of June, up by 11.4% from the end of December 2023.

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