Arab African Bank Egypt continues leading in corporate finance market

The Arab African International Bank-AAIB exerts relentless efforts to enhance and develop corporate financing, in addition to its focus on non-banking financial companies, which is one of most important sectors the bank interested in.

The bank carried out more than 18 major financing transactions, according to the bank's latest statement on its business results for the third quarter of 2022.

Moreover, the bank supported medium and small enterprises in line with the bank’s strategy to achieve diversification in its portfolios.

Thus, its SMEs portfolio recorded EGP11 billion by the end of the third quarter of 2022, which varied between the industrial sector, small projects, contracting, and service projects.

Corporates financing jumped by 28.16%, to record 92.64 billion pounds at the end of the third quarter of 2022, compared to EGP72.28 billion at the end of 2021, an increase of EGP20.37 billion.

The bank occupied fifth place on First Bank list of fastest growing banks in terms corporates loans during the first 9 months of 2022.

Due to the increase in the bank’s syndicated loans by 19.52%, to record EGP 33.91 billion at the end of September 2022, compared to EGP 28.37 billion at the end of 2021; an increase of EGP 5.54 billion.

Moreover, AAIB’s direct loan portfolio increased by 11.31%, to reach             EGP 20.69 billion at the end of the third quarter of 2022, compared to EGP18.59 billion at the end of 2021; an increase of EGP2.10 billion.

It is expected that corporates portfolio will continue to grow significantly, due to the bank’s tireless efforts in this regard, and one of its most recent efforts was its signing, last December, of an agreement worth EGP 100 million with the Tadamun Microfinance Foundation.

Last October, AAIB also signed a partnership with Supplier Chains for Technology Solutions LLC, known commercially as Kaish, a partnership to launch the supplier chains financing program in order to provide innovative financing solutions targeting corporate clients operating in the Egyptian market, especially SMEs.