Cairo – Mubasher: Consolidated net profits of the Egyptian Gulf Bank (EG Bank) grew by 27% year-on-year (YoY) in the first half (H1) of 2022 to EGP 406.63 million, compared to EGP 320.20 million.

Interest income reached EGP 3.83 billion in H1-22, a rise of 4% when compared to EGP 3.68 billion in H1-21, according to a bourse statement on Sunday.

Likewise, total deposits of the bank surged by 10% annually during the January-June period in 2022 to stand at EGP 70.78 billion from EGP 64.39 billion.

As regards the standalone business, EG Bank recorded a 23% YoY increase in its standalone net profits to EGP 409.46 million in H1-22, from EGP 333.95 million. 

In the first quarter (Q1) of 2022, the bank logged consolidated net profits after tax worth EGP 193.75 million, an annual growth of 23% from EGP 157.78 million.