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Thirteen banks in Egypt reported net profits of EGP 21.778 billion during the first half (1H) of 2022, according to a survey conducted by Daily Egypt on the performance of banks operating in the local market
Thirteen banks in Egypt reported net profits of EGP 21.778 billion during the first half (1H) of 2022, according to a survey conducted by Daily Egypt on the performance of banks operating in the local market.
Commercial International Bank – Egypt (CIB) topped those banks with a net profit of EGP 7.773billion. QNB Alahli ranked second at EGP 4.754 billion. Faisal Islamic Bank – Egypt came third with EGP 1.747billion, while Housing and Development Bank (HDB) ranked fourth with EGP 1.303billion.
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Six banks registered EGP 1 billion in net profits. They include Credit Agricole Egypt at EGP 1.018billion and Abu Dhabi Islamic Bank at EGP 1.016billion. The CIB achieved a net profit of EGP 7.773billion during 1H 2022, compared to EGP 6.077billion in 1H 2021. The bank’s profits before tax (PBT) amounted to EGP 11.415billion in 1H 2022, compared to EGP 8.648billion in 1H 2021. The return on loans and similar revenues amounted to EGP 24.2bn in June 2022, as against EGP 20.9billion in June 2021, while the net income from return recorded EGP 13.6billion, compared to EGP 11.6bn.
