AlexBank says H1 net profit hit EGP 2.365 billion

Egypt’s AlexBank, part of Italy’s Intesa Sanpaolo, announced on Tuesday that its net profit after tax reached 2.365 billion Egyptian pounds ($76.5 million) in the first half of the year.

Earlier, net profit after tax stood at 1.234 billion pounds in the first half of 2022.

Profit before tax has recorded 3.413 billion pounds at the end of June 2023, up from 1.885 billion pounds at the end of June 2022, according to the bank’s standalone financial statements.