Export Development Bank of Egypt (EBank) logged consolidated net profits after tax worth EGP 2.38 billion in the first half (H1) of 2024, an annual surge from EGP 1.25 billion.

The lender recorded net interest income valued at EGP 4.02 billion in H1-24, marking a year-on-year (YoY) surge from EGP 2.40 billion, according to the consolidated financial statements.

Total assets enlarged to EGP 159.71 billion in H1-24 from EGP 118.42 billion as of 31 December 2023, while the customers’ deposits jumped to EGP 122.51 billion from EGP 86.70 billion.

Standalone Results

The standalone net profit after tax increased to EGP 2.31 billion in H1-24 from EGP 1.20 billion in the three-month period that ended on 30 June 2023.

Earnings per share (EPS) climbed to EGP 2.79 in January-June 2024 from EGP1.94 a year earlier, while the net interest income grew to EGP 3.95 billion from EGP 2.33 billion.

Financials for Q2

The EGX-listed bank achieved consolidated profits valued at EGP 1.28 billion in the second quarter (Q2) of 2024, higher than EGP 693.84 million a year earlier.

Net interest income hiked to EGP 2.06 billion in Q2-24 from EGP 1.24 billion in Q2-23.

Non-consolidated net profits jumped to EGP 1.28 billion in April-June 2024 from EGP 698.30 million in Q2-23, while the basic EPS increased to EGP 1.55 from EGP 1.13.

As of 31 March 2024, EBank registered EGP 1.09 billion in consolidated net profit, compared to EGP 563.87 million in Q1-23.

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