aiBANK Reveal 27.5% Growth in Retail Loans, Reaching EGP 6.813 Bn At 9M-2023
First Bank
The financial statements of the Arab Investment Bank, aiBANK, ending on September 30, 2023, unveiled a 27.5% growth in Retail loans portfolio, with an increase of EGP 1.5 bn during the current year.
Retail loans portfolio reached EGP 6.813 bn by the end of September 2023, compared to EGP 5.345 bn by the end of December 2022.
Retail loans segment experienced a remarkable 32.26% growth, with an increase of EGP 1.36 bn during the first 9 months of the current year, reaching EGP 5.6 bn by September 2023, compared to EGP 4.2 bn by the end of December 2022.
Total Mortgage loans portfolio at the bank saw a growth rate of 40.1%, with an increase of EGP 252.7 mn during the first 9 months of the current year. Its value reached EGP 883.4 mn by the end of September 2023, compared to EGP 630.7 mn by the end of December 2022.
Additionally, total credit cards portfolio increased by 52.1%, with an increase of EGP 19.9 mn during the first 9 months of the current year, reaching EGP 58.3 mn by September 2023, compared to EGP 38.3 mn by the end of December 2022.
The overdraft accounts portfolio recorded approximately EGP 387.3 mn by the end of the past September.
It’s worth noting that total loans and facilities for clients at the bank increased by 15.74%, with an increase of EGP 3.3 bn
during the first 9 months of the current year, reaching EGP 24.1 bn by the end of September 2023, compared to EGP 20.9 bn by the end of December 2022.
