SAIB 9-Month Profit Hits US$ 19.6 Mln

Societe Arabe Internationale De Banque (SAIB) reported net profit of US$ 19.652 million in the first nine months of 2012, compared to US$ 16.673 million in the compared period in 2011, registering an increase of US$ 2.97 million (17.9%).

The financial statements showed that the bank’s portfolio of loans and credit facilities surged by US$ 740.2 thousand (0.1%), registering US$ 659.204 million at the end of last September, compared to US$ 658.464 million at the end of 2011.

The bank’s deposits portfolio rose to US$ 1.961 billion at the end of Q3 of 2012, compared to US$ 1.608 billion at the end of 2011, registering an increase of US$ 353.3 million.

The bank’s investments in treasury bills climbed to US$ 542.7 million at the end of last September, compared to US$ 169.6 million at the end of last year, registering an increase of US$ 373.1 million.

The bank’s funds and balances held by the Central Bank of Egypt (CBE) registered US$ 92.917 million at the end of last September, down from US$ 112.961 million at the end of 2011. The bank’s balances held by other banks reached US$ 100.9 million at the end of last September, compared to 134.1 million at the end of 2011.