1st Quarter Results

Notes

Mar. 31, 2026

Dec. 31, 2025

Assets

Cash and balances at the central bank

14

91,222,851

88,094,579

Due from banks

15

171,464,712

136,581,804

Loans and advances to banks, net

17

55,185,042

34,440,770

Loans and advances to customers, net

18

545,902,541

503,361,099

Derivative financial instruments

515,109

620,349

Financial investments

- Financial Assets at Fair Value through OCI

19.1

374,988,506

375,180,260

- Financial Assets at Amortized cost

19.1

264,070,109

234,685,457

Investments in subsidiaries and associates

20

1,257,430

1,157,430

Non-current assets held for sale

32

279,104

279,104

Other assets

21

49,136,404

53,904,113

Deferred tax assets

1,185,389

2,410,347

Property and equipment

22

5,587,553

5,437,519

Total assets

1,560,794,750

1,436,152,831

Liabilities and equity

Liabilities

Due to banks

23

14,337,104

3,796,866

Due to customers

24

1,210,058,565

1,105,355,617

Derivative financial instruments

81,585

137,802

Current income tax liabilities

5,380,432

20,570,313

Other liabilities

25

60,117,408

25,411,706

Issued debt instruments

26

5,455,820

4,761,558

Other loans

34,530,873

30,471,499

Other provisions

27

16,594,297

15,632,737

Total liabilities

1,346,556,084

1,206,138,098

Equity

Issued and paid capital

33,779,361

33,779,361

Reserves

135,250,237

105,426,594

Reserve for employee stock ownership plan (ESOP)

2,715,948

2,343,532

Retained earnings*

42,493,120

88,465,246

Total equity and net profit for the period / year

214,238,666

230,014,733

Total liabilities and equity

1,560,794,750

1,436,152,831

The accompanying notes are an integral part of these financial statements.

(Review report attached)

*

Including net profit for the period

Condensed Separate Interim Income Statement for The Period Ended March 31, 2026

Notes

Mar. 31, 2026

Mar. 31, 2025

Interest and similar income

53,038,335

52,299,641

Interest and similar expense

(23,508,947)

(27,003,143)

Net interest income

29,529,388

25,296,498

Fee and commission income

4,407,520

3,510,324

Fee and commission expense

(2,221,186)

(1,586,144)

Net fee and commission income

2,186,334

1,924,180

Dividend income

24,830

12,751

Net trading income

9

418,338

641,395

Profits (losses) on financial investments 

19.2

168,162

376,684

Administrative expenses

(4,971,613)

(3,748,977)

Other operating income (expenses)

10

(2,426,872)

(1,735,421)

Release (charges) for ECL

11

532,097

(68,528)

Profit before income tax

25,460,664

22,698,582

Income tax expense

12

(6,304,551)

(6,514,216)

Deferred tax assets (liabilities)

12

(1,417,766)

411,246

Net profit for the period

17,738,347

16,595,612

Earnings per share

13

Basic

4.65

4.37

Diluted

4.59

4.32

Islam Zekry

Hisham Ezz Al-Arab

Group CFO & Executive Board Member

CEO & Executive Board Member

Condensed Separate Interim Statement of Comprehensive Income for The Period Ended March 31, 2026

Mar. 31, 2026

Mar. 31, 2025

Net profit for the period

17,738,347

16,595,612

Net change on financial assets at fair value through comprehensive income after tax

(4,612,788)

2,141,325

Effect of ECL on debt instruments measured at fair value through OCI

(263,772)

841,407

Total comprehensive income for the period

12,861,787

19,578,344

Condensed Separate Interim Cash Flows for The Period Ended March 31, 2026

Notes

Mar. 31, 2026

Mar. 31, 2025

Cash flow from operating activities

Profit before income tax

25,460,664

22,698,582

Adjustments to reconcile profits to net cash provided by operating activities

Fixed assets depreciation

22

544,724

353,476

Impairment release/charge for credit losses (loans and advances to customers and banks)

11

(328,665)

(1,099,420)

Net charge/release for other provisions

27

989,760

317,074

Impairment release/charge for credit losses (due from banks)

11

7,565

144,661

Impairment release/charge for credit losses (financial investments)

11

(210,997)

1,023,287

Exchange revaluation differences for financial assets at fair value through OCI and AC

(23,298,906)

212,785

Revaluation differences impairment charge for Financial Assets at Fair value through OCI

534,661

(13,337)

Revaluation differences impairment charge for Financial Assets at Amortized cost

51,512

1,240

Revaluation differences impairment charge for due from banks

19,270

-

Net utilized/recovered for other provisions

27

(1,152,649)

(520)

Exchange revaluation differences of other provisions

27

1,124,449

103,160

Profits/losses from selling property and equipment

-

(6,006)

Profits/losses from selling financial investments at fair value through OCI

19.2

(168,162)

(195,124)

Profits/losses from selling investments in associates

19.2

-

(181,560)

Share based payments

372,416

316,185

Operating profits before changes in operating assets and liabilities

3,945,642

23,674,483

Net decrease / increase in assets and liabilities

Due from banks

527,549

121,695,741

Derivative financial instruments

68,390

(142,036)

Loans and advances to banks and customers

(62,957,049)

(26,329,852)

Other assets

5,056,275

6,045,337

Due to banks

23

10,540,238

1,734,021

Due to customers

24

104,702,948

28,224,178

Current income tax obligations paid

(924,119)

(948,354)

Other liabilities

(6,132,228)

(1,891,062)

Net cash generated from (used in) operating activities

54,827,646

152,062,456

Cash flow from investing activities

Proceeds from sale of investments in associates

-

226,698

Payments for investment in subsidiaries

(100,000)

(140,000)

Payments for purchases of property, equipment and branches construction

(983,324)

(3,193,660)

Proceeds from selling property and equipment

10

-

6,006

Proceeds from redemption of financial assets at amortized cost

8,104,535

2,537,401

Payments for purchases of financial assets at amortized cost

(35,484,752)

(23,457,385)

Payments for purchases of financial assets at fair value through OCI

(45,986,599)

(29,004,342)

Proceeds from selling financial assets at fair value through OCI

62,163,317

6,611,128

Net cash generated from (used in) investing activities

(12,286,823)

(46,414,154)

Condensed Separate Interim Cash Flows for The Period Ended March 31, 2026 (Cont.)

Mar. 31, 2026

Mar. 31, 2025

Cash flow from financing activities

Other loans

4,059,374

(13,765)

Dividends

(8,742,653)

(6,552,255)

Issued debt instruments

694,262

(22,830)

Net cash generated from (used in) financing activities

(3,989,017)

(6,588,850)

Net increase (decrease) in cash and cash equivalent during the period

38,551,806

99,059,452

Beginning balance of cash and cash equivalent

141,266,643

227,028,744

Cash and cash equivalent at the end of the period

179,818,449

326,088,196

Cash and cash equivalent comprise:

Cash and balances at the central bank

14

91,222,851

67,709,656

Due from banks

171,624,229

314,289,639

Treasury bills and other governmental notes

16

129,038,860

116,517,989

Obligatory reserve balance with CBE

(70,980,930)

(43,718,398)

Due from banks with maturity more than three months

(12,048,530)

(14,867,792)

Treasury bills and other governmental notes with maturity more than three months

(129,038,031)

(113,842,898)

Total cash and cash equivalent

179,818,449

326,088,196

Condensed Separate Interim Statement of Changes in Shareholders' Equity

Mar. 31, 2025

Issued and paid capital

Legal reserve

General reserve

General risk reserve

Special reserve

Capital reserve

Reserve for financial assets at fair value through OCI

Banking risks reserve

Retained earnings

Reserve for employee stock ownership plan

Total

Beginning Balance

30,431,580

6,208,674

62,422,792

1,549,445

-

22,818

(7,095,741)

17,924

56,260,451

1,868,235

151,686,178

Transferred to reserves

-

2,771,284

18,971,298

-

-

2,246

-

-

(21,744,828)

-

-

Dividend paid

-

-

-

-

-

-

-

-

(14,714,434)

-

(14,714,434)

Net profit for the period

-

-

-

-

-

-

-

-

16,595,612

-

16,595,612

Net change on financial assets at fair value through OCI after tax

-

-

-

-

-

-

2,141,325

-

-

-

2,141,325

Transferred (from) to banking risk reserve

-

-

-

-

-

-

-

(2,628)

2,628

-

-

Effect of ECL on debt instruments measured at fair value through OCI

-

-

-

-

-

-

841,407

-

-

-

841,407

Cost of employees' stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

-

316,185

316,185

 Ending Balance

30,431,580

8,979,958

81,394,090

1,549,445

-

25,064

(4,113,009)

15,296

36,399,429

2,184,420

156,866,273

Mar. 31, 2026

Issued and paid capital

Legal reserve

General reserve

General risk reserve

Special reserve

Capital reserve

Reserve for financial assets at fair value through OCI

Banking risks reserve

Retained earnings

Reserve for employee stock ownership plan

Total

Beginning Balance

33,779,361

8,979,958

79,110,551

1,549,445

13,145,012

25,064

2,601,268

15,296

88,465,246

2,343,532

230,014,733

Transferred to reserves

-

4,089,832

30,606,170

-

-

13,005

-

-

(34,709,007)

-

-

Dividends paid

-

-

-

-

-

-

-

-

(29,010,270)

-

(29,010,270)

Net profit for the period

-

-

-

-

-

-

-

-

17,738,347

-

17,738,347

Net change on financial assets at fair value through OCI after tax

-

-

-

-

-

-

(4,612,788)

-

-

-

(4,612,788)

Transferred (from) to banking risk reserve

-

-

-

-

-

-

-

(8,804)

8,804

-

-

Effect of ECL on debt instruments measured at fair value through OCI

-

-

-

-

-

-

(263,772)

-

-

-

(263,772)

Cost of employees' stock ownership plan (ESOP)

-

-

-

-

-

-

-

-

-

372,416

372,416

 Ending Balance

33,779,361

13,069,790

109,716,721

1,549,445

13,145,012

38,069

(2,275,292)

6,492

42,493,120

2,715,948

214,238,666