Arab Finance: Societe Arabe Internationale de Banque’s (SAIB) net profits after taxes dropped by 24% year on year (YoY) to $12.135 million during the first half (H1) of 2023 from $16.005 million, according to financial indicators filed to the Egyptian Exchange (EGX) on August 8th.

Interest income edged down 1% YoY to $186.521 million in the six-month period ended June 30th from $184.689 million.

Established in 1976, SAIB Bank is engaged in the provision of retail, corporate, and investment banking products and services through a network of 21 branches located across Egypt and abroad. It also offers Islamic banking products and solutions through its branches.

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