With a growth of 51.1%, AAIB records fastest quarterly growth in retail loans in 9 years

The bank expanded its retail loans significantly during the first 9 months of 2024, as evidenced by a 51.10% rise in its portfolio of retail loans, with an increase of 9.5 billion pounds, marking the fastest quarterly growth in 9 years, and the largest ever increase in value.

According to the bank's separate financial statements, the volume of retail loans rose to 28.2 billion pounds by the end of September 2024, compared to 18.7 billion pounds by the end of 2023, placing third on the First Bank list of the fastest growing banks in retail loans during the first 9 months of 2024.

This distinction not only increased quantitative growth, but also strengthened the Bank's position as a leading destination in the Egyptian banking sector, as evidenced by an increase in its market share to 2.61% of total retail loans in the Egyptian banking sector by the end of September 2024, compared to 2.03% by the end of 2023.

Highlighting the growth rates achieved over the past years, the Bank has grown its personal loan portfolio by about 13.5% during the first 9 months of 2023, while growth of about 12.6% during the same period in 2022 and 2021 respectively.

In terms of the performance of its portfolio of individual loans during the first 9 months of 2020, it rose by about 12.3%, while it increased by about 2% during the same period of 2019.

As for the growth rate of retail loan portfolio during the first 9 months of 2018, it was 0.6%, while it recorded an increase of about 36.8% and 6.2% during the same period in 2017 and 2016 respectively.

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 loans to customers 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, a growth of 27.90%.

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.

Customers' 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 to 393.7 billion pounds by the end of 2023, an increase of 226.83 billion pounds