Al Ahli Bank of Kuwait – Egypt Achieves Breakthrough Results for the Financial Year 2023 with Net Profit Recording EGP 2.803 Billion

Al Ahli Bank of Kuwait – Egypt Achieves Breakthrough Results for the Financial Year 2023 with Net Profit Recording EGP 2.803 Billion

Ali Marafi, Chairman of ABK-Egypt Kuwait / Egypt, Mar 13: Al Ahli Bank of Kuwait – Egypt (ABK-Egypt) recently announced strong financial results for the fiscal year 2023, reporting a record increase in the Bank’s Net Profit by 67%, which stood at EGP 2.803 billion compared to EGP 1.682 billion in 2022. Net Operating Profit …

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Ali Marafi, Chairman of ABK-Egypt

Kuwait / Egypt, Mar 13: Al Ahli Bank of Kuwait – Egypt (ABK-Egypt) recently announced strong financial results for the fiscal year 2023, reporting a record increase in the Bank’s Net Profit by 67%, which stood at EGP 2.803 billion compared to EGP 1.682 billion in 2022. Net Operating Profit reached EGP 3.924 billion, representing an 82% year-on-year increase compared to EGP 2.162 billion in 2022. As for ABK-Egypt’s financial position, Total Assets stood at EGP 97.606 billion, recording a 29% growth compared to EGP 75.603 billion in December 2022.

According to the Bank’s announced results, Net Interest Income reached EGP 4.088 billion, an increase of 49% compared to EGP 2.749