Arab Finance: Societe Arabe Internationale De Banque’s (SAIB) net profits after tax increased 3% year-on-year (YoY) in 2023, hitting $31.156 million from $30.155 million a year earlier, according to the bank’s financial indicators announced on February 13th.

Interest revenue was up 6% YoY, reaching $404.039 million last year, compared to $379.725 million.

Deposits dropped 6% YoY to $2.756 billion in 2023 from $2.945 billion in 2022.

Loans hit $1.526 billion last year, compared to $1.689 billion a year earlier, representing a decline of 10% YoY.

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