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EBE’s profit soars 118% in H1-22

EBE’s profit soars 118% in H1-22
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Cairo – Mubasher: The net profits of Export Development Bank of Egypt (EBE) amounted to EGP 621.94 million in the first half (H1) of 2022, up 118.2% or EGP 336.8 million from EGP 285.07 million in H1-21.

Net income from interest stood at EGP 1.25 billion in H1-22, a rise from EGP 930.61 million in H1-21, according to a bourse disclosure on Sunday.

As for the standalone financials, the lender’s net earnings grew by 144% or EGP 357.5 million year-on-year (YoY) to EGP 605.5 million, compared to EGP 248 million.

During the second quarter (Q2) of 2022, the net profits soared to EGP 320.05 million, compared with EGP 159.92 million in Q2-21, while net income from interest rose to EGP 697.81 million in Q2-22, from EGP 476.0 million in Q2-21.

Over the January-March period in 2022, the consolidated net profits of EBE climbed by 139% annually to EGP 301.89 million from EGP 126.23 million, including minority shareholders' rights.