SAIB Bank reports 12% profit increase in H1

The bank’s interest income fell by 5%

  

ArabFinance: Societe Arabe Internationale de Banque (SAIB) reported a net profit after tax of $8.95 million in the first half (H1) of 2021, up by 12% from $7.97 million in H1 2020, according to the financial indicators filed to the Egyptian Exchange (EGX).

The bank’s interest income fell by 5% to $197.79 million in H1 2021, from $209.18 million in the same period of 2020.

Established in 1976, SAIB Bank is engaged in the provision of retail, corporate, and investment banking products and services through a network of 21 branches located across Egypt and abroad. It also offers Islamic banking products and solutions through its branches.

At press time, the conversion rate is $1 = EGP 15.68.

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