Egypt’s AlexBank pre-tax profits at EGP 2.786 bln in nine months

Egypt’s AlexBank, part of Italian bank Intesa Sanpaolo, said on Tuesday it posted profits before tax worth 2.786 billion Egyptian pounds ($178.5 million) for the first nine months of the year.

Earlier, the bank made profits before tax worth 3.22 billion pounds in the first nine months of 2019.

Nine-month net profit reached 2.015 billion pounds, down from 2.442 billion pounds in the same period last year.

Customers’ deposits recorded 84.619 billion pounds at the end of September 2020, from 87.451 billion pounds at the end of December, the bank added in a statement.