EG Bank reports 23% YoY increase in Q1 consolidated profit
Updated 6/7/2022 10:55:00 AM
Arab Finance: Egyptian Gulf Bank (EG Bank) (EGBE) posted a 23% year-on-year (YoY) increase in consolidated net profit after tax for the first quarter (Q1) of 2022, according to the financial indicators filed to the Egyptian Exchange (EGX) on June 7th.
The bank’s consolidated net profit after tax stood at EGP 193.75 million in Q1 2022, compared to a profit of EGP 157.78 million in the same quarter of 2021.
Earnings per share (EPS) rose by 21% YoY in Q1 2022 to EGP 0.46 from EGP 0.38.
It is worth noting that the bank recorded a consolidated profit excluding minority interest of EGP 695.336 million in 2021, up from EGP 624.882 million in 2020.
EG Bank is engaged in the provision of corporate, retail, and investment banking services through a network of 16 branches located across Egypt.
