Cairo – Export Development Bank of Egypt (EBank) achieved EGP 3.95 billion in consolidated net profit during the first nine months (9M) of 2024, higher than EGP 2.29 billion in 9M-23.

The EGX-listed lender posted net income from funds valued at EGP 6.28 billion in 9M-24, an annual hike from EGP 3.23 billion, according to the financial results.

Total assets jumped to EGP 172.14 billion as of 30 September 2024 from EGP 118.42 billion at the end of December 2023, while the customers’ deposits hiked to EGP 126.21 billion from EGP 86.70 billion.

In the third quarter (Q3) of 2024, the bank’s consolidated net profits widened to EGP 1.57 billion from EGP 1.03 billion in Q3-23, while the net income enlarged to EGP 2.25 billion from EGP 1.53 billion.

Standalone Results

Non-consolidated net profit after tax reached EGP 3.88 billion in the January-September 2024 period, up year-on-year (YoY) from EGP 2.15 billion.

EBank reported net interest income of EGP 6.12 billion in 9M-24, versus EGP 3.79 billion a year earlier.

Meanwhile, the earnings per share (EPS) climbed to EGP 4.48 at the end of September 2024 from EGP 3.45 in 9M-23.

In the first half (H1) of 2024, EBank witnessed YoY higher consolidated net profits after tax at EGP 2.38 billion, whereas the standalone net profit after tax reached EGP 2.31 billion.

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