Cairo – Mubasher: The Egyptian Gulf Bank (EG Bank) recorded a 23% year-on-year (YoY) increase in its standalone net profits to EGP 409.46 million in the first half (H1) of 2022 from EGP 333.95 million, according to the bank's initial financials.

The bank's interest income rose by 4% to around EGP 3.83 billion in H1-22, compared to EGP 3.67 billion in the year-ago period.

It is noteworthy to mention that in the first quarter (Q1) of 2022, EG Bank reported a 24% year-on-year (YoY) rise in its standalone net profits to EGP 197.4 million from EGP 159.57 million.