Cairo – Mubasher: The net profits after tax of Société Arabe Internationale de Banque (SAIB) retreated by 24% to $12.13 million in the first half (H1) of 2023, versus $16 million in H1-22.
The interest income reached $186.52 million in H1-23, down 1% year-on-year (YoY) from $184.68 million, according to the financial statements.
Earnings per share (EPS) hit $0.77 in the first six months (6M) of 2023, lower by 25% than $1.02 a year earlier.
Meanwhile, SAIB posted customers’ deposits valued at $2.70 billion as of 30 June 2023.
Capital Hike
The bank’s board members invited the shareholders to discuss increasing the paid-up and issued capital to $331.02 million from $157.50 million.
In order to carry out the capital raise, the EGX-listed lender will issue 17.35 million bonus shares at an amount of $173.52 million by granting 1.10 bonus shares for each owned share.
During the three-month period that ended on 31 March 2023, SAIB generated $5.56 million in net profit after tax, an annual drop of 28% from $7.67 million.
