Cairo – Mubasher: Egyptian Gulf Bank (EG Bank) logged consolidated net profits valued at EGP 1.91 billion in the first nine months (9M) of 2024, higher by 81% than EGP 1.06 billion in 9M-23.
Net interest income amounted to EGP 16.01 billion in 9M-24, marking an 86% year-on-year (YoY) leap from EGP 8.59 billion, according to the financial results.
Basic earnings per share (EPS) jumped by 78% YoY to EGP 3.23 as of 30 September 2024 from EGP 1.81.
EG Bank reported customers’ deposits worth EGP 116.48 billion in 9M-24, up 44% from EGP 81 billion at the end of December 2023.
Standalone Results
The lender posted standalone net profits after tax worth EGP 1.93 billion in the January-September 2024 period, up 85% YoY from EGP 1.04 billion.
Non-consolidated interest income hit EGP 15.97 billion in 9M-24, an annual surge of 86% from EGP 8.59 billion.
In the first half (H1) of 2024, EG Bank reported higher net profits at EGP 1.28 billion, versus EGP 672.25 million in 9M-23.
