ALEXBANK logs profits in Q1-25
Total operating income jumped by 35.70% YoY to EGP 6.10 billion as of 31 March 2025, backed by 33.19% higher net interest income at EGP 5.50 billion.
The bank achieved a profit before income tax of EGP 5.10 billion, marking an annual leap of 81.40%.
Total assets hit EGP 235.70 billion in Q1-25, while the gross loans and customer facilities reached EGP 75.10 billion.
This was supported by an increase in total deposits to EGP 181.60 billion, resulting in a net loans to deposit ratio of 38.70%.
ALEXBANK recorded a 104.35% YoY leap in net profit to EGP 10.23 billion at the end of December 2024.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
an hour ago
- The National
Hamas in talks on final details of Gaza ceasefire
Hamas leaders are holding talks on the final details of a Gaza ceasefire deal, sources told The National, as a far-right Israeli minister threatens to torpedo any agreement. Gaza's ruling militants are expected to agree to the latest proposal for a ceasefire and the release of hostages, but the group is seeking clarification about some outstanding issues, the sources said as the talks take place in Cairo on Thursday. 'Hamas has agreed to about 90 per cent of the provisions of the proposals,' said one source. 'It's searching for details and clarifications before it gives it final agreement to the plan.' The main provisions in the proposed deal are a 60-day truce during which Hamas will release 10 living hostages as well as the remains of half those who died in captivity in return for about 1,200 Palestinians detained in Israel. The proposal also envisions negotiations between Israel and Hamas on ending the war and an Israeli withdrawal from Gaza. Mediators from Egypt, Qatar and the US would provide assurances about those negotiations, but Israel is not committing to that part, according to an Egyptian official quoted by the Associated Press on Thursday. Israeli National Security Minister Itamar Ben-Gvir, who has bitterly opposed any deal throughout the war, called on political ally Finance Minister Bezalel Smotrich to 'join forces' to stop a 'reckless deal'. Mr Smotrich this week promised to oppose any deal that ended fighting in the strip. 'We must not stop the war without victory,' Mr Ben-Gvir told Israel's public broadcaster. 'What do you think will happen if we stop the war now? That Hamas will hand out flowers?'. US President Donald Trump has said Israel has agreed the terms of the 60-day ceasefire and that Washington would work with both sides during that time to try to end more than 20 months of war. If Hamas does not accept what is on offer, Mr Trump warned, its prospects will get worse. The renewed efforts to reach a Gaza truce are taking place in the aftermath of US and Israeli strikes on nuclear sites in Iran, Hamas's chief foreign backer. They also come ahead of Mr Trump's meeting with Israeli Prime Minister Benjamin Netanyahu in Washington on Monday. The sources said senior Hamas leaders were in Cairo on Thursday for talks with Egyptian officials to iron out details and timelines of a range of issues, including the withdrawal of the Israeli military from areas in Gaza it seized after a previous ceasefire collapsed in March. Also under review by the two sides are the mechanics of the resumption and distribution of humanitarian aid for Gaza, where hundreds of thousands are facing hunger and the acute shortage of essential life items. It is not immediately clear how the proposal addresses Hamas's long-standing conditions, chiefly an end to the war and an Israeli withdrawal from Gaza. Also not clear are the terms that Israel has accepted and whether it offered any concessions on its often repeated assertion that Hamas must dismantle its military and governance capabilities and free all the hostages before the war can end. The Egyptian official quoted by AP said both sides have agreed that the UN and the Palestinian Red Crescent would lead aid operations in Gaza and that the Gaza Humanitarian Foundation, which is backed by Israel and the US, would also continue to operate in the enclave. The Hamas and Egyptian officials are also discussing details of the proposed departure from Gaza of wounded Palestinians for treatment as well as senior Hamas officials who are expected to live in exile abroad. The precise mandate of a council of independent Palestinian technocrats expected to run the coastal territory when the proposed 60-day truce goes into effect is also being negotiated, according to the sources. Also under discussion is the storing of weapons to be laid down by Hamas as part of the deal and the return by Israel of the bodies of the group's late Hamas leader, Yahya Sinwar, and his brother, military commander Mohammed Sinwar. Both were killed by Israel. But Mr Ben-Gvir's call highlights how easily a deal could still be derailed despite apparent recent progress, particularly if Israel's leading hardliners band together. Mr Ben-Gvir removed his Jewish Power party from the coalition in January in anger about a short-lived hostage deal. He rejoined the government when the war resumed in March. His manoeuvres have prompted Israel's opposition to offer Mr Netanyahu a safety net, in case the government lacks the votes to pass a deal. Opposition leader Yair Lapid wrote on X that he was willing to offer his 23 seats to get a hostage deal. 'We need to bring them all home now,' he said. Despite potential difficulties for Mr Netanyahu, senior ministers in the coalition appear to be supporting the push for an agreement. 'There is a large majority in the government and among the people for the plan to release hostages,' Foreign Minister Gideon Sa'ar said on Wednesday. 'If there is an opportunity to do so, it must not be missed!' A forum representing the families of most Israeli hostages have published a clip in which two captives still held in Gaza described themselves as 'dead men walking'. Maxim Herkin and Bar Kuperstein told the camera they 'don't feel like human beings'. The full video calls for one overall deal, as opposed to a series of staggered releases, the format for two previous deals. The Hostages and Missing Families Forum said its members 'demand a comprehensive agreement that will ensure the return of every last hostage'. The Gaza war broke out in October 2023, when Hamas-led militants attacked southern Israel, killing 1,200 people and taking roughly 250 hostages. The group is believed to still have some 50 hostages, with fewer than half of them thought to be alive. The attack drew a devastating military campaign by Israel that has to date killed more than 56,000 Palestinians and wounded more than twice that number, according to health authorities in Gaza. The war has also displaced, more than once in many case, the majority of Gaza's estimated two million residents and destroyed large swathes of built-up areas. Mediators from the US, Qatar and Egypt have been trying in vain since March to broker a pause in the war and the release of hostages. The only other truce in Gaza since the war began came in November 2023. It lasted a week.
Zawya
2 hours ago
- Zawya
As the years go by, when should your business replace its PC hardware?
Common sense dictates that South African businesses hold onto their technology for as long as possible. In the face of turbulent market conditions and economic uncertainty, as well as the fact that they can represent a significant upfront capital investment, PC hardware needs to deliver as much value as possible and be capable of supporting modern business operations in the long term. Werner Joubert, Commercial SYS business director (South Africa and SADC) at Asus But what happens when that hardware starts to show its age? Telltale signs and helpful tips Upgrading hardware may feel like a grudge purchase in the moment, but the fact is that upgrading comes as a result of a company's technology stack no longer being able to fully meet its digital and IT needs or is hurting its business activities or operations in an optimised manner. Some of the signs that it's time to upgrade your PC include: - Outdated platforms: If your device is unable to run the latest versions of essential business platforms and applications, then it's time to upgrade. A prime example of this is the upcoming end-of-life deadline for Windows 10, which is prompting many users to upgrade to devices that can run Windows 11. - Application performance: As application workloads become more hardware-intensive, users may discover their older hardware cannot run them optimally. Apps may be slow to start up and run, negatively impacting business and users' productivity. - Multitasking: With businesses relying more and more on digital-first functions and processes, users may find themselves unable to carry out multiple tasks on their PCs at the same time, further impacting productivity and performance. - Noise and heat: Constant noise from a PC's fan signals the PC is generating a lot of heat, which can indicate that it is working overtime to carry out computational tasks. That all said, businesses can also take steps to prolong the lifespan of their devices without having to outright replace them. This includes keeping the devices clean and free of dust, which can lead to overheating, regularly defragmenting and reformatting hard drives, keeping them in cool, dry working environments. Users should also adhere to optimised power and battery life management practices, while businesses can also upgrade components (if possible) such as Ram and storage. A lifecycle well spent With the help of a formal PC lifecycle policy, South African businesses can better manage the lifespan of their devices, starting with the initial purchase planning and ending with their decommissioning and ethical disposal. This includes several important practices. For example, businesses should base the length of PC lifecycles on workloads and users' needs. Not every organisation or user is equally reliant on their hardware, so businesses should deploy a uniform distribution system where possible, meaning they should procure and allocate devices based on groups' and departments' individual use cases (e.g. a programmer requires a PC with high advanced computational capabilities while a salesperson needs a PC with levels of portability and good battery life). By doing so, businesses can also track device warranties and oversee support options, ensuring everyone in the organisation remains connected and capable of fulfilling their digital responsibilities. A lifecycle policy also creates the opportunity for businesses to integrate their technology into their organisation's greater sustainability goals and objectives. Knowing when and how to replace PC hardware (i.e. e-waste) can align with businesses' initiatives to lower their carbon footprints and minimise the impact of their operations on the environment. Upgrade strategically to stay competitive, innovative, and agile Never underestimate the impact of old or outdated hardware on business continuity, with devices unable to fully leverage the latest generation of enterprise applications (and that includes new technologies such as AI, which marks a turning point in multiple industries across South Africa) or process-intensive workloads. The result is not just a rig that's slow to boot up, but a liability that hinders overall productivity and performance. By keeping up to date and investing in capable, up-to-date hardware, local businesses can remain competitive in their respective industries, reinforce their ability to innovate using digital platforms and solutions, and be agile towards shifting consumer and market needs and expectations.
Zawya
2 hours ago
- Zawya
Sharjah Chamber strengthens investment cooperation with Africa during first-ever trade mission to Mauritius
Mauritius: The Sharjah Chamber of Commerce and Industry (SCCI) concluded its first-ever official trade mission to the Republic of Mauritius, which was organized in collaboration with the Economic Development Board (EDB) of Mauritius from June 30 to July 3. The mission aimed at strengthening economic and trade relations and fostering stronger business-to-business engagement. It focused on exploring high-potential investment opportunities and expanding cooperation and coordination between the business communities of Sharjah and Mauritius. This strategic initiative is part of the Chamber's ongoing efforts to attract targeted investments and support the global expansion of private enterprises and local businesses into opportunity-rich markets. Led by H.E. Abdallah Sultan Al Owais, Chairman of SCCI, the delegation comprised Sheikh Majid Faisal Khalid Al Qasemi, First Vice Chairman of SCCI, along with SCCI Board Members H.E. Ziyad Mohmoud Khairalla AlHaji and H.E. Mohamed Ali Marzook Binkamil. The delegation also included Dr. Fatema Khalifa Al Muqarrab, Director of International Relations at SCCI; Mai Sultan bin Hadda Al Suwaidi, Head of Partnerships and International Cooperation at SCCI; and Dr. Lina Al Samkari and Dr. Hassan Al-Kharrat from Al Hanan Ind LLC. The Sharjah Chamber commenced its trade mission with high-level meetings with senior officials from the Government of Mauritius. The delegation met with Hon. Dhaneshwar Damry, Junior Minister of Finance; Hon. Shakeel Mohamed, Minister of Housing and Lands; Hon. Hambirajen Narsinghen, Junior Minister of Foreign Affairs, Regional Integration and International Trade; Hon. Sayed Muhammad Aadil Ameer Meea, Minister of Industry, SME and Cooperatives; and Hon Mahomed Osman Cassam Mahomed, Minister of Land Transport. During the meetings and in the presence of Mahen Abhimanu Kundasamy, CEO of EDB, both sides discussed ways to strengthen bilateral economic cooperation and explore investment opportunities in high-potential sectors. They emphasized the importance of activating public-private partnerships and exploring new avenues of collaboration in key sectors, including real estate, infrastructure development, financial services, tourism, and renewable energy. The two sides also discussed opportunities for exchanging expertise and successful experiences in the fields of economic development and enhancing cooperation between the business communities of both countries. The discussions underscored the commitment to advancing bilateral ties and promoting sustainable growth in both the UAE and Mauritius. During these meetings, H.E. Shakeel Mohamed received a formal invitation to serve as Guest of Honor at the upcoming edition of the Sharjah Real Estate Exhibition 'ACRES' scheduled to take place at Expo Centre Sharjah in January 2026. In his keynote address, H.E. Abdallah Sultan Al Owais stated that Mauritius stands out as one of Africa's most dynamic and flourishing economies, acting as a strategic regional gateway linking the African continent with Southeast Asia. He noted that organizing this first-of-its-kind trade mission marks a strategic step toward deepening economic cooperation between Sharjah and Mauritius, stimulating trade and investment flows and fostering greater collaboration between private sector players in both markets. 'The importance of this mission is further underscored by the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Mauritius, which came into effect earlier this year. The agreement opens the door for the business communities in both countries to benefit from exceptional advantages, including customs exemptions, facilitated trade exchange, and increased investment potential across strategic sectors such as manufacturing, renewable energy, tourism, and logistics services,' Al Owais added. The official trade mission featured an interactive business forum themed 'Deepening Economic Ties', jointly organized by the Sharjah Chamber and the Economic Development Board (EDB) of Republic of Mauritius. The session was attended by the Sharjah Chamber delegation members, alongside Mahen Abhimanu Kundasamy, CEO of EDB, and a group of Mauritian business leaders and entrepreneurs representing key industries such as financial services, hospitality, real estate, healthcare, and manufacturing. During the forum, Dr. Fatema Khalifa Al Muqarrab delivered a presentation titled "Business and Investment Opportunities in Sharjah', highlighting the emirate's investor-friendly ecosystem and its appeal as a global investment destination for the private sector. Mahen Abhimanu Kundasamy also made a presentation on Innovative Mauritius, showcasing the country's innovation strategy and its well-diversified economy and sectors with strong potential for collaboration with Sharjah. As part of the official trade mission agenda, the Sharjah Chamber signed a Memorandum of Understanding (MoU) with the Mauritius Chamber of Commerce and Industry (MCCI). The agreement, signed by H.E. Abdallah Sultan Al Owais and Charles Harel, President of MCCI, aims to unlock new channels of collaboration across several strategic economic sectors, including financial services, tourism investment, and pharmaceutical manufacturing. It also seeks to encourage Emirati companies to capitalize on Mauritius's strategic location as a gateway to African markets. The signing of the MoU coincided with the 175th anniversary of the Mauritius Chamber of Commerce and Industry, a milestone that reflects the deepening relations between the UAE and Mauritius. These ties have been further strengthened by the Comprehensive Economic Partnership Agreement (CEPA) between the two countries, which has contributed to a remarkable 221% increase in Mauritian exports to the UAE since 2018. The agreement has opened new avenues for collaboration in key strategic sectors such as healthcare, finance, tourism, manufacturing, and investment. Through this partnership agreement, the Mauritius Chamber aims to bolster its cooperation with the Sharjah Chamber and capitalize on its extensive global network of over 70 strategic global partnerships. The Sharjah Chamber delegation concluded their official trade mission by conducting a field visit to the facilities of IFFCO Group, a prominent UAE enterprise with a strong footprint in Mauritius, serving as a benchmark for successful industrial and investment expansion in global markets. During the visit, the delegation was briefed on the group's production operations, strategic expansion roadmap, and flagship projects in Mauritius, as well as insights into its supply chain integration across regional and international markets. The trade mission organized a series of events and site visits aimed at exploring major economic and investment projects and ventures in Mauritius. The program also included targeted business dialogue sessions designed to facilitate meaningful networking opportunities and foster stronger business-to-business connections between Emirati entrepreneurs and their Mauritian counterparts.
