Cairo – Mubasher: Société Arabe Internationale de Banque (SAIB) registered net profits after tax valued at $19.04 million in the first nine months (9M) of 2023, down from $26.47 million in 9M-22.
Net interest income declined year-on-year (YoY) to $102.88 million in January-September 2023 from $105.75 million, according to the financial results.
Basic earnings per share (EPS) stood at $0.58 as of 30 September 2023, an annual drop from $0.80.
Total assets retreated to $3.46 billion in 9M-23 from $3.48 billion as of 31 December 2022, while the customer deposits fell to $2.76 billion from $2.94 billion.
Financials for Q3-23
In the third quarter (Q3) of 2023, SAIB posted YoY lower net profits at $6.91 million, versus $10.47 million.
The net interest income amounted to $35.86 million in Q3-23, compared to $38.86 million a year earlier.
During the first half (H1) of 2023, the EGX-listed lender generated $12.13 million in consolidated net profit after tax, an annual plunge of 24% from $16 million.
