SAIB Bank records reports 7% profit increase in 9 months
Updated 11/9/2021 7:39:08 AM
ArabFinance: Societe Arabe Internationale de Banque (SAIB) reported a net profit after tax of $14.167 million in the first nine months of 2021, up by 7% from $13.18 million in the year-ago period, according to the financial indicators filed to the Egyptian Exchange (EGX).
The bank’s interest income increased by 1% to $299.56 million in the January-September period of 2021 from $302.35 million in the same period of 2020.
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.
At press time, the conversion rate is $1 = EGP 15.73.
