AlexBank H1 pre-tax net profit grows to EGP 1.959 billion

Egypt’s AlexBank announced on Monday that it made net profit before tax worth up to 1.959 billion Egyptian pounds ($124.6 million) for the first half of the year, up from 1.369 billion pounds last year.

The bank, which is controlled by Italy’s Intesa Sanpaolo, recorded net profit for the six months ended in June of 1.357 billion from 1.369 billion pounds in the same period in 2020.

Total assets rose to 107.4 billion pounds at the end of June 2021 from 102.341 billion pounds at the end of December 2020, according to the bank’s latest financial statements.

Loans and facilities to customers also grew to around 49.758 billion pounds at the end of June, compared with 47.964 billion pounds at the end of December 2020.

Customers’ deposits increased to 89.587 billion pounds at June-end from 85.010 billion pounds at December-end.