EG Bank’s consolidated profits jump 93% YoY in H1 2024

Amr Dalsh

Net interest income climbed to EGP 2.609 billion in H1 2024 from EGP 1.768 billion in H1 2023

Staff Writer, Arab Finance

August 15, 2024

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Egyptian Gulf Bank (EG Bank) posted a 92.9% year-on-year (YoY) leap in consolidated net profits after tax and non-controlling interest in the first half (H1) of 2024 to EGP 1.297 billion from EGP 672.258 million, according to a disclosure.

Net interest income climbed to EGP 2.609 billion in H1 2024 from EGP 1.768 billion in H1 2023.

Moreover, the bank’s standalone net profits after tax jumped to EGP 1.234 billion from January through June, versus EGP 656.949 million over the same period a year ago.

Meanwhile, standalone net interest income grew to EGP 2.581 billion from EGP 1.765 billion.

EG Bank is engaged in the provision of corporate, retail, and investment banking services through a network of 16 branches located across Egypt.

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