SAIB's profits leap 87% YoY in 9 months
Updated 11/15/2022 2:39:00 PM
ArabFinance: Societe Arabe Internationale de Banque’s (SAIB) net profit after tax rose 86.9% year-on-year (YoY) during the first nine months of 2022, according to the financial statements filed to the Egyptian Exchange (EGX) on November 15th.
The company’s net profit after tax increased to $26.479 million in January-September from $14.167 million in the same period a year earlier.
Net income declined to $283.015 million in the nine months to September 30th from $299.564 million in the comparative period of 2021.
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.
