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SAIB's profit grows 28% in Q1

SAIB's profit grows 28% in Q1
The bank’s interest income declined to $97.56 million

Cairo – Mubasher: Societe Arabe Internationale de Banque (SAIB) posted net profits of $5.25 million in the first quarter (Q1) of 2021, up by 27.6% year-on-year (YoY) from $4.11 million.

The bank’s interest income declined to $97.56 million in the January-March period, compared to $111.66 million in the corresponding period a year earlier, according to a bourse disclosure on Tuesday.

During 2020, SAIB logged net profits of $20.44 million, up from $11.1 million a year earlier.