ArabFinance: Societe Arabe Internationale de Banque’s (SAIB) net profits after taxes soared 46% year-on-year (YoY) to $7.68 million during the first quarter (Q1) of 2022 from $5.25 million, according to financial indicators filed to the Egyptian Exchange (EGX) on May 29th.

Interest income inched down 3% YoY to $94.206 million in the three-month period ended March 31^st from $97.56 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.