AAIB achieves the fastest annual growth in its retail loans portfolio in 6 years, with a growth of 31%

Arab African International Bank expanded its retail loans significantly during 2024, which is evident in the increase in its portfolio of retail loans by about 31%, with an increase of 5.815 billion pounds, recording the fastest quarterly growth in 6 years, and the largest value increase ever.

According to the bank’s separated financial statements, the volume of retail loans increased to 24.48 billion pounds by the end of 2024, compared to 18.667 billion pounds by the end of 2023.

This strong performance in the retail loan portfolio comes as part of the Bank's strategy aimed at enhancing its role in the retail banking sector, thus contributing to meeting the diverse needs of customers.

This growth also reflects customers' increasing confidence in the bank's banking services, and its ability to provide innovative and flexible financing solutions that support individuals in achieving their financial goals.

This distinction was not limited to quantitative growth only, but also strengthened the bank’s position as a leading face in the Egyptian banking sector, which is evident in its market share increasing slightly to 2.17% of the total retail loans in the Egyptian banking sector by the end of 2024, compared to 2.03% by the end of 2023.

Highlighting the growth rates achieved over the past years, we find that the bank achieved growth in its retail loan portfolio by about 10% during 2023, while it recorded growth of about 22% and 14% during the years 2022 and 2021, respectively.

In terms of the performance of its portfolio of retail loans during 2020, it increased by about 9%, while it declined by about 1% during 2019.

The bank's financial performance over the past year reflects a strong trend towards achieving comprehensive and sustainable growth, as AAIB recorded strong increases in many major financial indicators, which reflects its ambitious strategy and future vision to strengthen its position in the banking market.

This is through its focus on providing innovative services and integrated solutions that meet customer needs, as the bank seeks to consolidate its presence as a leading financial institution capable of adapting to continuous economic changes, which enhances its competitiveness in a dynamic market environment and confirms its aspirations towards achieving more successes in the future.

Its net profits increased by about 94%, reaching 13.616 billion pounds in 2024, compared to 7.016 billion pounds in 2023.

The bank's profits before income taxes jumped to 20.012 billion pounds in 2024, compared to 10.138 billion pounds in 2023, with a growth rate of 97%.

Net interest income rose by about 69% over the past year, reaching 26.279 billion pounds in 2024, compared to 15.588 billion pounds in 2023.

In terms of the bank’s financial position, AAIB’s asset portfolio increased by about 71.4% over the past year, recording 923.59 billion pounds by the end of 2024, compared to 538.83 billion pounds by the end of 2023, a total increase of 384.8 billion pounds.

Its portfolio of customer deposits jumped by about 70.73%, reaching 672.21 billion pounds by the end of 2024, compared to 393.7 billion pounds by the end of 2023, a total increase of 278.5 billion pounds.

Its total customer loans increased to 202.09 billion pounds by the end of 2024, compared to 154.378 billion pounds by the end of 2023, with a growth rate of 30.91%, and an increase estimated at about 47.71 billion pounds.

To view more details about Arab African International Bank and its most prominent achievements, click here.