AAIB leads Egyptian banks in Asset coverage ratio for deposits during 2022

First Bank list of the best banks in Assets coverage ratio for deposits revealed that Arab African International Bank topped the list with a coverage rate of 149.5% by the end of 2022.

After total assets reached EGP324.9 bn, which is ($13.169 bn), while total deposits reached EGP217.3 bn, which is ($8.809 bn) by the end of December 2022.

This percentage is very high, and reflects the bank's  ability to fulfill its obligations towards depositors, as deposits represent about 75.27% of total assets owned by the bank.

In general, AAIB was able to achieve a good performance at the level of its financial safety indicators during 2022, as the bank’s capital adequacy ratio increased to 21.53% at the end of 2022, compared to 19.49% at the end of 2021, doubling the regulatory limit set by CBE, according to Basel decisions, 12.5%.

The bank’s assets (inside and outside balance sheet) that are not weighted with risk weights, increased to 12.36% by the end of 2022, compared to 11.72% by the end of 2021.

AAIB was able to reduce its default rate, as it fell to 8% at the end of last September, but it rose again during the last quarter of 2022, recording 9%, compared to 13% at the end of 2021.