Nasser Social Bank’s profits jump by 76% YoY in FY2022/23
Updated 9/10/2023 6:29:00 AM
Arab Finance: Nasser Social Bank’s profits rose by 76% year on year (YoY) to EGP 3.095 billion during the elapsed fiscal year (FY) 2022/2023, according to a statement by the Egyptian Ministry of Social Solidarity on September 9th.
The financial indicators were announced by Minister of Social Solidarity Niveen El-Qabbag while heading the lender’s board of directors meeting.
El-Qabbag added that the bank's budget rose to EGP 42.3 billion during FY2022/2023 from EGP 34.3 billion, with an annual growth rate of 23%.
Net financing and facilities granted to customers climbed by 15% YoY to EGP 26.1 billion during the July 2022-June 2023 period, she added.
Moreover, the bank’s balance of financing granted to women amounted to EGP 14 billion, the minister noted.
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