Cairo – Mubasher: Egyptian Gulf Bank (EG Bank) generated EGP 312.77 million in consolidated net profit after tax from continuing operations during the first quarter (Q1) of 2023, an annual surge of 61% from EGP 193.75 million.
The earnings per share (EPS) hit EGP 0.63 in January-March 2023, higher by 58% year-on-year (YoY) than EGP 0.40, according to the financial results.
Interest income jumped by 37% to EGP 2.60 billion in Q1-23 from EGP 1.89 billion in Q1-22.
As for the standalone business, the bank achieved non-consolidated net profits after tax amounting to EGP 316.30 million in the three-month period that ended on 31 March 2023, a 60% YoY hike from EGP 197.40 million.
Last year, EG Bank recorded higher consolidated net profits after tax at EGP 845.83 million, versus EGP 695.33 million in 2021, including minority interest.
Meanwhile, the standalone net profits after tax reached EGP 855.52 million in 2022, up from EGP 695.65 million a year earlier.
