SAIB posts 79% YoY higher profits June-end
Updated 8/9/2022 11:09:00 AM
ArabFinance: Societe Arabe Internationale de Banque’s (SAIB) net profit after tax surged by 79% year-on-year (YoY) to $16.005 million during the period ended June 30th, according to financial indicators filed to the Egyptian Exchange (EGX) on Tuesday.
Interest income declined to $184.689 million at the end of June from $197.799 million a year earlier.
The bank’s total deposits at the end of June decreased by 11% YoY to stand at $3.529 billion.
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.
