aiBANK grows by 18.7% on First Bank Composite Growth Index during H1-2023

aiBANK achieved a composite growth rate of 18.69% during the first half of 2023, as revealed by the financial statements of Arab Investment Bank.

This growth was measured using the composite index established by First Bank, evaluating the financial performance of banks across all branches of activity, including net profits, deposit portfolio, loan portfolio, and asset portfolio, from January to June 2023.

The bank showed positive results in all 4 sub-indicators of  First Bank index, notably in net profits, which experienced a significant growth rate of 55.74%, reaching EGP450.2 mn in the first half of 2023, compared to EGP289.1 mn during the same period in 2022, marking an increase of EGP161.1 mn.

Total loan and facilities to customers portfolio contributed significantly to this growth, increasing by 12.14% and totaling EGP23.4 bn by the end of June 2023.

 Additionally, the bank's asset portfolio witnessed a growth rate of 5.61%, reaching EGP58.5 bn by the end of June 2023.

Furthermore, total customer deposit portfolio at the bank increased by 1.28%, totaling EGP48.8 bn by the end of June 2023.