Cairo –  The Egyptian Gulf Bank (EG Bank) reported a 24% year-on-year (YoY) rise in its standalone net profits to EGP 197.4 million in the first quarter (Q1) of 2022 from EGP 159.57 million, according to the bank's initial financials for the three-month period ended 31 March 2022.

The bank's interest income increased by 6% to EGP 1.89 billion in the January-March period of 2022, compared to EGP 1.79 billion in the year-ago period.

It is noteworthy to mention that in 2021, EG Bank's consolidated net profits jumped by 11.27% to EGP 695.33 million, compared to EGP 624.88 million in 2020.

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