AAIB tops fastest growing banks in shareholders' equity during 2024

Arab African International Bank achieved remarkable growth in its equity over the past year, rising to 132.628 billion pounds by the end of 2024, compared to 70.956 billion pounds by the end of 2023, with a growth rate of 86.92%, and an increase of 61.67 billion pounds.

This strong performance prompted the Arab African International Bank to top the «First Bank» list of the fastest growing banks in total equity during 2024.

In general, Arab African International Bank achieved strong performance in its financial indicators over the past year, as 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 see the full list.. Click here.