Cairo – Mubasher: Societe Arabe Internationale de Banque (SAIB) posted an 87% year-on-year drop in profits for the second quarter of 2017 due to the decrease in yield on loans, according to a bourse filing on Wednesday.
The bank achieved profits of $2.2 million in the three months ended June 2017, compared to $16.3 million in the corresponding period of 2016.
Yield on loans amounted to $120.5 million in Q2-17, versus $160.06 million in Q2-16.
In the first half of 2017, net profit declined 23.5% to $23.4 million, versus $30.9 million in H1-16.
SAIB’s profits reached $21.17 million in the three months ended March 2017 from $14.6 million in the same period last year.
