AlexBank achieves net profit exceeding EGP3bln by the end of 2018
AlexBank, a member of Italian bank Intesa Sanpaolo, a net profit of 3.025 billion Egyptian pounds by the end of 2018, compared to 2.7 billion pounds by the end of 2017, with an increase of 243 million pounds.
The Bank achieved a total profit of 3.9 billion pounds, of which 955 million pounds was income tax expenses at the end of the year.
Moreover, loans increased to 38.2 billion pounds by the end of the previous year, compared to 32.1 billion pounds at the end of 2017, as a result of the bank’s expansion in SME and individual loans.
The bank’s customer deposits amounted to 78.7 billion pounds by the end of 2018, compared to 63.5 billion pounds at the end of 2017, with an increase of 15.2 billion pounds.