AAIB Tops Banks in Asset Coverage Ratio for Deposits in Q1-2023

Arab African International Bank has secured the top position on First Bank list of best banks in terms of asset coverage ratio for deposits, maintaining its leadership. It previously held the first place on the same list in 2022 as well.

Asset coverage ratio for deposits reached about 150%, with the bank's deposits increasing to EGP260.03 bn, while its asset portfolio reached EGP390.04 bn by the end of March 2023.

This high ratio reflects the bank's strong ability to meet its commitments to depositors, as deposits represent 66.67% of its total assets by the end of March 2023.

Overall, the bank achieved excellent performance during the current year, with its asset portfolio growing by 19.22% to reach EGP 390 bn by the end of March 2023, compared to EGP327.2 bn at the end of 2022.

Deposits also saw a significant increase of 19.22%, with the bank's deposit portfolio reaching around EGP 260 bn by the end of March 2023, compared to EGP218.1 bn at the end of 2022.

Furthermore, customer loans rose by 15.35%, with a total of about EGP145.5 bn recorded by the end of March 2023, compared to EGP 126.1 bn at the end of 2022.