AlexBank says first-half net profit after tax hit EGP 1.234 billion

Egypt’s AlexBank, part of Italy’s Intesa Sanpaolo, announced on Monday that its net profit after tax had reached 1.234 billion Egyptian pounds ($64.4 million) in the first half of the year.

Earlier, net profit after tax stood at 1.357 billion pounds in the first half of 2021.

Profit before tax registered approximately 1.885 billion pounds in the first half of 2022, down from 1.959 billion pounds in the first half of 2021.

Total assets surged to 120.50 billion pounds at the end of June 2022, from 114.899 billion pounds at the end of December 2021.

Customers’ deposits also climbed to 100.116 billion pounds at the end of June 2022 compared to 95.720 billion pounds at the end of December 2021.