AAIB tops the fastest-growing banks in Shareholders Equity during 9M-2024

AAIB's equity portfolio saw remarkable growth during the first 9 months of this year, rising by 72.49%, to 122.392 billion pounds by the end of September 2024, compared to 70.956 billion pounds by the end of 2023, with an increase of 51.435 billion pounds.

This strong performance prompted the AAIB to top "First Bank" list of the fastest growing banks in total equity in the first 9 months of 2024, compared to seventh place in the same period in 2023.

Overall, AAIB achieved a strong performance over the past year, jumping its net profit by 122.62%, registering 11.461 billion pounds in the first 9 months of 2024, compared to 5.148 billion pounds in the same period from 2023, with an increase of 6.313 billion pounds.

Profit before income taxes rose by 129.49%, reaching 16.884 billion pounds during the first 9 months of 2024, compared with 7.357 billion pounds in the same period from 2023, with an increase of 9.526 billion pounds.

Net interest income rose to 21.683 billion pounds during the first 9 months of 2024, compared to 11.047 billion pounds during the same period of 2023, with a growth of 96.28% and an increase of 10.635 billion pounds.

Net fees and commissions income rose from 2.200 billion pounds during the first 9 months of 2023, to 3.432 billion pounds during the same period of 2024, a growth rate of 55.98%, and an increase of 1.231 billion pounds.

The asset portfolio climbed to 861.130 billion pounds by the end of September 2024, compared to 538.812 billion pounds by the end of 2023, with growth of 59 .82% and an increase of 322.318 billion pounds.

The Bank's total customer loans  jumped by 43.077 billion pounds during the first 9 months of this year, registering 197.454 billion pounds by the end of September 2024, compared with 154.377 billion pounds by the end of 2023, a growth of 27.90%.

Customer deposit portfolio rose by 57.61% in the first 9 months of this year, reaching 620.57 billion pounds by the end of September 2024, compared with 393.7 billion pounds by the end of 2023, an increase of 226.83 billion pounds.