Al Ahli Bank of Kuwait – Egypt (ABK-Egypt), has announced achieving breakthrough results for the first half (1H) of 2022, reflecting solid growth in business volume and very strong performance over the course of the year. The Bank achieved EGP 887m net profit in 1H 2022 compared to EGP 396m in 1H 2021, with net interest income growing 27% to EGP 1.3bn in 1H 2022 compared to EGP 1bn over the same period in 2021. According to the Bank’s announced results, the total assets grew by 8% to reach EGP 61.4bn in June 2022 compared to EGP 56.8bn in December 2021. The total customer deposits witnessed an increase of 12% to reach EGP 53.7bn compared to EGP 47.9bn, and the Bank’s total gross loans portfolio also increased by 13% to reach EGP 30.85bn compared to EGP 27.4bn in December 2021. ABK-Egypt’s growth strategy is primarily focused on sustainable growth in the Egyptian market and we remain positive about our future in the country.

Source: Daily News Egypt August 14, 2022 17:30 UTC