Tamer waheed leads AAIB to fastest growing egyptian banks in customer deposits

AAIB topped First Bank list of fastest growing banks in customer deposits in the first 9M of this year, after its portfolio jumped by 49.51% in the first 9M of this year, reaching EGP 326.43 bn by the end of September 2023, compared to EGP 218.33 bn by the end of 2022.

This significant growth in the Bank's customer deposit portfolio is due to its success in attracting the confidence of many individual depositors, which is reflected in the significant growth achieved by the individual deposit portfolio of the AAIB, jumping 95.02%, reaching EGP 142.18 bn by the end of Q3- 2023, compared to EGP 72.90 bn by the end of 2022.

The corporate deposit portfolio also rose to EGP 184.25 bn by the end of September 2023, compared to EGP 145.42 bn by the end of 2022, with a growth of 26.70% and an increase of EGP 38.83 bn

Overall, the AAIB has continued to achieve record business results since Tamer Waheed took over the leadership of the Bank, with the Bank's assets rising by EGP 147.91 bn, bringing the total portfolio to EGP 474.31 bn by Q3- 2023, compared to EGP 326.39 bn by the end of 2022, with growth of 45.32%.

The bank's net profit jumped by 92%, to EGP 5.152 bn during the first 9M of 2023, compared to EGP 2.68 bn during the same period of 2022.

The Bank's total customer funding portfolio rose by 23.42%, reaching EGP 155.68 bn by the end of September 2023, compared to EGP 126.13 bn by the end of 2022.

Net income from the return jumped by 106%, to EGP 11.054 bn during the first 9M of 2023, compared to EGP 5.36 bn during the same period last year.

Net income from fees and commissions rose by 156%, registering EGP 2.2 bn in the first 9M of 2023, compared to EGP 847 mn in the same period in 2022.

The total financial investment portfolio rose by about 30%, reaching EGP 127.9 bn by the end of Q3- 2023, compared to EGP 98.2 bn by the end of 2022.

To view full list.. Click here