AAIB achieves significant rise in its assets portfolio, recording the fastest quarterly growth in 9 years

The Bank's portfolio of assets rose to 861.13 billion pounds by the end of September 2024, compared to 538.81 billion pounds by the end of 2023, bringing a growth rate of 59.82% billion pounds and an increase of 322.32 billion pounds, marking the fastest quarterly growth of the last decade and the largest ever increase in assets.

Thanks to this record performance, the Bank topped the "First Bank" list of fastest growing asset banks in the first 9 months of 2024, while the biggest achievement was to clinch fourth place on the top five Banks in the asset market ahead of fifth place, in a move that reflects the success of its strategic vision.

The market share of AAIB jumped to 4.06% of total banking assets by the end of September 2024, compared to 3.79% by the end of 2023.

Highlighting the growth rates achieved over the past years, the Bank has grown its asset portfolio by about 45.34% during the first 9 months of 2023, while growth of about 15.26% and 1.30% during the same period of 2022 and 2021 respectively.

As for the performance of his portfolio of assets during the first 9 months of 2020, it rose by about 8.67%, while it fell by about 1.44% during the same period of 2019.

As for the growth rate of the "African Arab" asset portfolio during the first 9 months of 2018, it was 0.81%, while it registered an increase of about 6.51% and 11.19% during the same period in 2017 and 2016 respectively.

The Bank's financial performance over the past year reflects a strong trend towards inclusive and sustainable growth, with Arab-African registering strong rises in several key financial indicators, reflecting its ambitious strategy and future vision to strengthen its position in the banking market.

By focusing on providing innovative services and integrated solutions that meet clients' needs, the Bank seeks to establish its presence as a leading financial institution capable of adapting to ongoing economic changes, enhancing its competitiveness in a dynamic market environment and underscoring its aspirations for further future successes.

Net profits jumped by 122.62%, registering 11.461 billion pounds in the first 9 months of 2024, compared with 5.148 billion pounds in the same period from 2023, an increase of 6.313 billion pounds.

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

Customer deposit portfolio rose by 57.61% in the first 9 months of last 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.