ArabFinance: Egyptian Gulf Bank (EG Bank) (EGBE) recorded a 23% year-on-year (YoY) increase in consolidated profit during the first nine months of 2022, according to financial indicators filed to the Egyptian Exchange (EGX) on Wednesday.

The company’s consolidated profit after tax rose to EGP 621.489 million in nine months to September 30th from EGP 505.004 million a year earlier.

Interest income grew to EGP 5.927 billion in January-September from EGP 5.684 billion the year before.

Furthermore, standalone net profit after tax rose to 624.616 million from January to the end of September from EGP 507.017 million during the same period last year. 

EG Bank is engaged in the provision of corporate, retail, and investment banking services through a network of 16 branches located across Egypt.