aiBANK Achieves a Breakthrough in Financial Efficiency Indicators During H1-2023

Arab Investment Bank 'aiBANK' has achieved significant progress in its financial efficiency indicators during the first half of the current year. This comes in light of the bank's continued strong performance since Tamer Seif El-Din assumed the position of CEO and Managing Director of aiBANK in January 2022.

The following analysis highlights bank's development in financial efficiency indicators from January to June 2023:

aiBANK's financial statements ending on June 30, 2023, revealed the bank achieved a return on average equity of 8.10% during the first half of 2023, compared to 5.82% during the same period in 2022.

The bank managed to increase its return on average assets to 0.79% during the first half of 2023, compared to 0.59% during the first half of 2022.

The main reason for the increase in 'return on equity' and 'return on assets' averages at aiBANK is the bank's net profits of EGP450.2 mn during the first half of 2023, compared to EGP289.1 mn during the same period in 2022, marking a growth rate of 56%.

In terms of earnings per share, aiBANK recorded a growth of 43% from January to June last year, with the bank's share of net profits amounting to approximately EGP 0.50 share during the first half of 2023, compared to EGP0.35 during the same period in 2022.

It's worth mentioning that the bank saw an 8.54% growth in its equity portfolio during the first half of this year, increasing from EGP5.067 bn at the end of December 2022 to EGP5.782 bn at the end of June 2023.

Additionally, the bank's asset portfolio increased by a growth rate of 5.61% during the first half of this year, reaching EGP58.50 bn at the end of June 2023, compared to EGP52.14 bn at the end of December 2022.

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