Cairo –  Arab International Bank (AIB) increased its shareholding in Société Arabe Internationale de Banque (SAIB) to 51.02% from 50.43% in exchange for $368,212.

AIB purchased 92,053 shares in SAIB at an average price of $4 per share, according to a bourse filing.

It is worth highlighting that Prime Securities was the broker for the transaction that was concluded on 19 November 2023.

In the first nine months (9M) of 2023, the net profits after tax of the EGX-listed lender dropped to $19.04 million from $26.47 million in 9M-22.

Net interest income fell to $102.88 million in January-September 2023 from $105.75 million a year earlier, while the basic earnings per share (EPS) retreated to $0.58 from $0.80.

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