Cairo – Mubasher: Société Arabe Internationale de Banque (SAIB) achieved net profits after tax worth $5.56 million in the first quarter (Q1) of 2023, a decline of 28% from $7.67 million in Q1-22, according to the initial income statements.
The earnings per share (EPS) plunged by 29% year-on-year (YoY) to $0.49 in Q1-23 from $0.35.
SAIB’s interest income also fell by 6% to $88.11 million during the January-March 2023 period from $94.20 million in the same three months (3M) in 2022.
Customer deposits shrank by 9% to $2.69 billion in Q1-23 from $2.94 billion in Q1-22.
In 2022, the EGX-listed lender achieved net profits worth $30.15 million which came higher than $19.93 million in 2021. The EPS rose to $1.45 at the end of December 2022, compared to $0.96 a year earlier.
SAIB’s interest income in 2022 surged to $143.17 million from $132.20 million.
