aiBank's financing for corporates jumps 17.73% during the first half of 2023

 Arab Investment Bank's financing for corporates saw significant improvement this year, jumping by approximately 17.73% to reach 2.12 bn Egyptian pounds by the end of June 2023, compared to EGP1.80 bn by the end of 2022, with an increase of EGP 319.63 mn.

In light of this notable growth, First Bank observes the development of Arab Investment Bank's financing for corporates through various bank products during the first half of 2023.

The bank's direct financing for corporates increased from EGP 1.67 bn by the end of 2022 to EGP1.91 bn by the end of June 2023, a growth rate of 14.69%, with an increase of EGP244.75 mn.

Direct Arab Investment loans for corporates constituted approximately 90.07% of the bank's total financing for industrial activities by the end of the first half of this year.

As for debit current accounts for industrial institutions, they jumped by 55.08% to register EGP210.82 mn by the end of the second quarter of 2023, compared to EGP135.95 mn by the end of 2022, with an increase of EGP74.88 mn.

Debit current accounts for corporates accounted for the smallest share of the bank's total financing, reaching 9.93% by the end of June 2023.

Arab Investment Bank's financing for corporates through its various products contributed approximately 12.26% to its total portfolio of loans for corporates by the end of June 2023.

The bank's financing for corporates increased from EGP15.51 bn by the end of the first half of 2023 to EGP17.39 bn by the end of June 2023, with a growth rate of 12.10%, and an increase of EGP1.88 bn.

Arab Investment loans for corporates through its various bank products contributed about 9.07% to the bank's total customer loans, which increased by about 12.14% to reach EGP23.39 bn by the end of the first half of 2023, compared to EGP 20.86 bn by the end of 2022, with an increase of EGP2.53 bn.

For more info and news about Arab Investment Bank... click more.