Cairo – Mubasher: Suez Canal Bank generated EGP 250.86 million in net profit after tax during the first quarter (Q1) of 2023, an annual leap from EGP 96.27 million.

The lender posted net income amounting to EGP 707.24 million during the January-March 2023 period, versus EGP 373.04 million in Q1-22, according to the financial results.

The basic earnings per share (EPS) reached EGP 0.62 in the first three months (3M) of 2023, higher than EGP 0.24 as of 31 March 2022.

Total assets hiked to EGP 87.92 billion in Q1-23 from EGP 74.66 billion as of 31 December 2022. Meanwhile, the customers' deposits widened to EGP 75.55 billion from EGP 65.80 billion.

Last year, the EGX-listed bank registered net profits after tax valued at EGP 1.04 billion, compared to EGP 604.67 million in 2021.