Arab Investment Bank-aiBanks strong performance continued during 2022, as it topped First Bank list of banks i

Analysis

aiBank is fastest growing bank in Egypt after leap witnessed in net income

2/22/2023 10:55:27 AM

Arab Investment Bank-aiBank’s strong performance continued during 2022, as it topped First Bank list of banks in terms of net income from fees and commissions at the first 9 months of last year.

Thus, its net income from fees and commissions increased by 122.97%, to record EGP188.6 million during the first 9 months of 2022, compared to EGP84.6 million during the same period of 2021.

In terms of net interest income; it increased by 62.90%, to record EGP1.28 billion during the first 9 months of 2022, compared to EGP 787 million at the same period in 2021.

Pre-taxes profits jumped to EGP 645.83 million at 9M-22 compared to EGP 332 million during the same period in 2021; an increase of EGP313.84 million.

Meanwhile, the bank’s asset portfolio increased by 15.68%, to reach EGP 52.58 billion at the end of September 2022, compared to EGP45.45 billion at the end of 2021; an increase of EGP 7.13 billion.

The bank's deposits portfolio increased to EGP44.94 billion at the end of September 2022, compared to EGP38.73 billion at the end of 2021, achieving a growth rate of 16.04% and an increase of EGP 6.21 billion.

However, its loans portfolio jumped by 83.20%, to record EGP20.71 billion at the end of the third quarter of 2022, compared to EGP11.30 billion pounds at the end of 2021, an increase of EGP9.41 billion.