{"id":324685,"date":"2022-02-23T11:47:46","date_gmt":"2022-02-23T11:47:46","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=324685"},"modified":"2022-02-27T08:25:56","modified_gmt":"2022-02-27T08:25:56","slug":"saib-saw-a-downward-trend-in-profits-by-2-during-2021","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/02\/23\/saib-saw-a-downward-trend-in-profits-by-2-during-2021\/","title":{"rendered":"saib achieves pre-provision, tax profit of $68.9m in 2021"},"content":{"rendered":"

\u00a0Societe Arabe Internationale de Banque (SAIB)achieved pre-provision and tax profit <\/b>of $68.9m in 2021, up from the 2020\u2019s $61.6m in 2020, with a growth rate of 12%.<\/span><\/p>\n

A statement by the bank revealed that the net profit amounted to $19.9m in December 2021, compared to $20.4m in 2020. The net income from returns increased by 5.4% as well, driven by the increase in the bank\u2019s portfolio of customer loans as well as the decrease in the cost of deposits.<\/span><\/p>\n

The net income from fees and commissions increased by 14.6% by the end of December 2021, mainly due to the growth in fees and commissions for retail banking loans as well as the boom in financing foreign trade operations of companies.<\/span><\/p>\n

Furthermore, the profits of financial investments increased in December 2021 by 251%, and the impairment charge for credit losses amounted to $20m compared to 2020\u2019s $8.3m. It resulted from the increase in the portfolio of loans in addition to the precautionary policy followed by the bank to face the repercussions of the pandemic at the level of all sectors and individuals in support of the rights of depositors and shareholders.<\/span><\/p>\n

According to the bank, the total loans and credit facilities to customers and banks increased in December 2021 by $409.7m to $2.065bn, an increase of 23.1%, compared to 2020. <\/span><\/p>\n

This was driven by an increase in total retail banking loans to individual customers by 52.9%. Total loans provided to corporate clients increased by 34.8% as well, and SMEs increased by 84.6%, while customer deposits increased by $166.7m, reaching $3.96bn.<\/span><\/p>\n

Moreover, the loans and facilities to customers increased by 55% in December 2021, compared to 2020\u2019s 46%, and the capital adequacy ratio reached 14.33% in the year.<\/span><\/p>\n

Tarek Al-Khouly, Chairperson and Managing Director of saib, stated that the continuous growth rates of the bank\u2019s business results are supported by its ambitious expansion plans and strategies.<\/span><\/p>\n

He stressed his confidence in the bank\u2019s ability to continue to achieve the best results and achievements at various levels despite the challenges of the pandemic. He explained that last year witnessed a remarkable development in the provision of all competitive banking services and products, in addition to digital products. <\/span><\/p>\n

\u201cWe are working to update them continuously in order to fit the needs of all segments of customers,\u201d he added.<\/span><\/p>\n

El-Khouly pointed out that the Central Bank of Egypt\u2019s (CBE) policies to enhance financial inclusion and keep pace with the digital transformation strategy as well as spread the culture of electronic payment had a positive impact on the bank. He praised the professionalism of the executive management and the bank\u2019s team, who played a major role in achieving these good indicators.<\/span><\/p>\n

He also revealed that during the second half of 2021, the bank was a main general arranger of a medium-term joint financing contract worth EGP 1.2bn for Kharafi National for the development of infrastructure projects.<\/span><\/p>\n

Furthermore, within the framework of the digital development plan adopted by the bank that is in line with the technological development witnessed by the banking sector and in support of the CBE\u2019s plans for financial inclusion and focusing on marketing banking products, the bank launched internet and mobile banking services for individual customers and launched the second version of the electronic wallet. It also increased the number of its ATMs to 96 across the country.<\/span><\/p>\n

In 2021, saib won two awards for the best banking product for the Al-Ahly Club credit card and the best banking product for the \u201celectronic payment bracelet,\u201d according to Global Brands magazine, one of the most prominent global institutions that conduct opinion polls and analyses on leading brands around the world. <\/span><\/p>\n

Moreover, within the framework of the bank\u2019s interest in human development, a training course in integrated credit analysis was held in coordination with the Egyptian Banking Institute (EBI) from February to October 2021, during which the first batch of credit analyst youths from the \u2018saib Academy\u2019 graduated. The graduates were enrolled in the workforce in the credit departments of major corporations as well as SMEs.<\/span><\/p>\n

saib provides its services through a network of 35 branches across the republic in addition to 96 ATMs and a website.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0Societe Arabe Internationale de Banque\u00a0(SAIB) reported a 2% decrease\u00a0in its net profits after tax to $19.9 million in 2021, compared to $20.44 million in 2020.<\/p>\n","protected":false},"author":4,"featured_media":322876,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,33],"tags":[396],"class_list":["post-324685","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-main","tag-saibbank"],"yoast_head":"\nsaib achieves pre-provision, tax profit of $68.9m in 2021 - egy-africa<\/title>\n<meta name=\"description\" content=\"\u00a0Societe Arabe Internationale de Banque\u00a0(SAIB) reported a 2% decrease\u00a0in its net profits after tax to $19.9 million in 2021, compared to $20.44 million in 2020.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2022\/02\/23\/saib-saw-a-downward-trend-in-profits-by-2-during-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"saib achieves pre-provision, tax profit of $68.9m in 2021 - egy-africa\" \/>\n<meta property=\"og:description\" content=\"\u00a0Societe Arabe Internationale de Banque\u00a0(SAIB) reported a 2% decrease\u00a0in its net profits after tax to $19.9 million in 2021, compared to $20.44 million in 2020.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/egy-africa.com\/en\/2022\/02\/23\/saib-saw-a-downward-trend-in-profits-by-2-during-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"egy-africa\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-23T11:47:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-27T08:25:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2021\/08\/%D8%B7%D8%A7%D8%B1%D9%82-%D8%A7%D9%84%D8%AE%D9%88%D9%84%D9%8A-1-750x430-1.jpg?fit=750%2C430&ssl=1\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"430\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Aya Abdulghany\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Aya Abdulghany\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/egy-africa.com\/en\/2022\/02\/23\/saib-saw-a-downward-trend-in-profits-by-2-during-2021\/\",\"url\":\"https:\/\/egy-africa.com\/en\/2022\/02\/23\/saib-saw-a-downward-trend-in-profits-by-2-during-2021\/\",\"name\":\"saib achieves pre-provision, tax profit of $68.9m in 2021 - egy-africa\",\"isPartOf\":{\"@id\":\"https:\/\/egy-africa.com\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/egy-africa.com\/en\/2022\/02\/23\/saib-saw-a-downward-trend-in-profits-by-2-during-2021\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/egy-africa.com\/en\/2022\/02\/23\/saib-saw-a-downward-trend-in-profits-by-2-during-2021\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2021\/08\/%D8%B7%D8%A7%D8%B1%D9%82-%D8%A7%D9%84%D8%AE%D9%88%D9%84%D9%8A-1-750x430-1.jpg?fit=750%2C430&ssl=1\",\"datePublished\":\"2022-02-23T11:47:46+00:00\",\"dateModified\":\"2022-02-27T08:25:56+00:00\",\"author\":{\"@id\":\"https:\/\/egy-africa.com\/en\/#\/schema\/person\/b6ceac9edb8a4f4971905ea65a568131\"},\"description\":\"\u00a0Societe Arabe Internationale de Banque\u00a0(SAIB) reported a 2% decrease\u00a0in its net profits after tax to $19.9 million in 2021, compared to $20.44 million in 2020.\",\"breadcrumb\":{\"@id\":\"https:\/\/egy-africa.com\/en\/2022\/02\/23\/saib-saw-a-downward-trend-in-profits-by-2-during-2021\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/egy-africa.com\/en\/2022\/02\/23\/saib-saw-a-downward-trend-in-profits-by-2-during-2021\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/egy-africa.com\/en\/2022\/02\/23\/saib-saw-a-downward-trend-in-profits-by-2-during-2021\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2021\/08\/%D8%B7%D8%A7%D8%B1%D9%82-%D8%A7%D9%84%D8%AE%D9%88%D9%84%D9%8A-1-750x430-1.jpg?fit=750%2C430&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2021\/08\/%D8%B7%D8%A7%D8%B1%D9%82-%D8%A7%D9%84%D8%AE%D9%88%D9%84%D9%8A-1-750x430-1.jpg?fit=750%2C430&ssl=1\",\"width\":750,\"height\":430},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/egy-africa.com\/en\/2022\/02\/23\/saib-saw-a-downward-trend-in-profits-by-2-during-2021\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/egy-africa.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"saib achieves pre-provision, tax profit of $68.9m in 2021\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/egy-africa.com\/en\/#website\",\"url\":\"https:\/\/egy-africa.com\/en\/\",\"name\":\"egy-africa\",\"description\":\"Just another WordPress site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/egy-africa.com\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/egy-africa.com\/en\/#\/schema\/person\/b6ceac9edb8a4f4971905ea65a568131\",\"name\":\"Aya Abdulghany\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/egy-africa.com\/en\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f3d34a871038964ff1f9085ae2941bc2?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f3d34a871038964ff1f9085ae2941bc2?s=96&d=mm&r=g\",\"caption\":\"Aya Abdulghany\"},\"sameAs\":[\"http:\/\/egy-africa.com\",\"mohamed nour\"],\"url\":\"https:\/\/egy-africa.com\/en\/author\/aya-abdulghany\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"saib achieves pre-provision, tax profit of $68.9m in 2021 - egy-africa","description":"\u00a0Societe Arabe Internationale de Banque\u00a0(SAIB) reported a 2% decrease\u00a0in its net profits after tax to $19.9 million in 2021, compared to $20.44 million in 2020.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/egy-africa.com\/en\/2022\/02\/23\/saib-saw-a-downward-trend-in-profits-by-2-during-2021\/","og_locale":"en_US","og_type":"article","og_title":"saib achieves pre-provision, tax profit of $68.9m in 2021 - egy-africa","og_description":"\u00a0Societe Arabe Internationale de Banque\u00a0(SAIB) reported a 2% decrease\u00a0in its net profits after tax to $19.9 million in 2021, compared to $20.44 million in 2020.","og_url":"https:\/\/egy-africa.com\/en\/2022\/02\/23\/saib-saw-a-downward-trend-in-profits-by-2-during-2021\/","og_site_name":"egy-africa","article_published_time":"2022-02-23T11:47:46+00:00","article_modified_time":"2022-02-27T08:25:56+00:00","og_image":[{"width":750,"height":430,"url":"https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2021\/08\/%D8%B7%D8%A7%D8%B1%D9%82-%D8%A7%D9%84%D8%AE%D9%88%D9%84%D9%8A-1-750x430-1.jpg?fit=750%2C430&ssl=1","type":"image\/jpeg"}],"author":"Aya Abdulghany","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Aya Abdulghany","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/egy-africa.com\/en\/2022\/02\/23\/saib-saw-a-downward-trend-in-profits-by-2-during-2021\/","url":"https:\/\/egy-africa.com\/en\/2022\/02\/23\/saib-saw-a-downward-trend-in-profits-by-2-during-2021\/","name":"saib achieves pre-provision, tax profit of $68.9m in 2021 - egy-africa","isPartOf":{"@id":"https:\/\/egy-africa.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/egy-africa.com\/en\/2022\/02\/23\/saib-saw-a-downward-trend-in-profits-by-2-during-2021\/#primaryimage"},"image":{"@id":"https:\/\/egy-africa.com\/en\/2022\/02\/23\/saib-saw-a-downward-trend-in-profits-by-2-during-2021\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2021\/08\/%D8%B7%D8%A7%D8%B1%D9%82-%D8%A7%D9%84%D8%AE%D9%88%D9%84%D9%8A-1-750x430-1.jpg?fit=750%2C430&ssl=1","datePublished":"2022-02-23T11:47:46+00:00","dateModified":"2022-02-27T08:25:56+00:00","author":{"@id":"https:\/\/egy-africa.com\/en\/#\/schema\/person\/b6ceac9edb8a4f4971905ea65a568131"},"description":"\u00a0Societe Arabe Internationale de Banque\u00a0(SAIB) reported a 2% decrease\u00a0in its net profits after tax to $19.9 million in 2021, compared to $20.44 million in 2020.","breadcrumb":{"@id":"https:\/\/egy-africa.com\/en\/2022\/02\/23\/saib-saw-a-downward-trend-in-profits-by-2-during-2021\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/egy-africa.com\/en\/2022\/02\/23\/saib-saw-a-downward-trend-in-profits-by-2-during-2021\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/egy-africa.com\/en\/2022\/02\/23\/saib-saw-a-downward-trend-in-profits-by-2-during-2021\/#primaryimage","url":"https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2021\/08\/%D8%B7%D8%A7%D8%B1%D9%82-%D8%A7%D9%84%D8%AE%D9%88%D9%84%D9%8A-1-750x430-1.jpg?fit=750%2C430&ssl=1","contentUrl":"https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2021\/08\/%D8%B7%D8%A7%D8%B1%D9%82-%D8%A7%D9%84%D8%AE%D9%88%D9%84%D9%8A-1-750x430-1.jpg?fit=750%2C430&ssl=1","width":750,"height":430},{"@type":"BreadcrumbList","@id":"https:\/\/egy-africa.com\/en\/2022\/02\/23\/saib-saw-a-downward-trend-in-profits-by-2-during-2021\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/egy-africa.com\/en\/"},{"@type":"ListItem","position":2,"name":"saib achieves pre-provision, tax profit of $68.9m in 2021"}]},{"@type":"WebSite","@id":"https:\/\/egy-africa.com\/en\/#website","url":"https:\/\/egy-africa.com\/en\/","name":"egy-africa","description":"Just another WordPress site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/egy-africa.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/egy-africa.com\/en\/#\/schema\/person\/b6ceac9edb8a4f4971905ea65a568131","name":"Aya Abdulghany","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/egy-africa.com\/en\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f3d34a871038964ff1f9085ae2941bc2?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f3d34a871038964ff1f9085ae2941bc2?s=96&d=mm&r=g","caption":"Aya Abdulghany"},"sameAs":["http:\/\/egy-africa.com","mohamed nour"],"url":"https:\/\/egy-africa.com\/en\/author\/aya-abdulghany\/"}]}},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2021\/08\/%D8%B7%D8%A7%D8%B1%D9%82-%D8%A7%D9%84%D8%AE%D9%88%D9%84%D9%8A-1-750x430-1.jpg?fit=750%2C430&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/pcF3XZ-1msR","_links":{"self":[{"href":"https:\/\/egy-africa.com\/en\/wp-json\/wp\/v2\/posts\/324685","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/egy-africa.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/egy-africa.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/egy-africa.com\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/egy-africa.com\/en\/wp-json\/wp\/v2\/comments?post=324685"}],"version-history":[{"count":3,"href":"https:\/\/egy-africa.com\/en\/wp-json\/wp\/v2\/posts\/324685\/revisions"}],"predecessor-version":[{"id":324712,"href":"https:\/\/egy-africa.com\/en\/wp-json\/wp\/v2\/posts\/324685\/revisions\/324712"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/egy-africa.com\/en\/wp-json\/wp\/v2\/media\/322876"}],"wp:attachment":[{"href":"https:\/\/egy-africa.com\/en\/wp-json\/wp\/v2\/media?parent=324685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/egy-africa.com\/en\/wp-json\/wp\/v2\/categories?post=324685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/egy-africa.com\/en\/wp-json\/wp\/v2\/tags?post=324685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}