aiBANK grows by 36.13% on FirstBank composite growth index during 2023

The financial statements of aiBANK, which ended on December 31st of last year, revealed that the bank achieved a composite growth rate of 36.13% during 2023.

This growth rate was measured using a composite index developed by First Bank to assess the financial performance of banks comprehensively, including net profits, deposit portfolio, loan portfolio, and asset portfolio, during 2023.

aiBANK managed to achieve positive results across all its sub-indicators constituting First Bank composite growth index, led by its net profits, which saw the most significant growth at a rate of 118.85%, an increase of EGP 624.711mn, reaching EGP 1.150 bn during 2023, compared to EGP525.612mn during 2022.

The size of Asset portfolio was the second contributor to the growth of aiBANK, increasing by 10.94% during the last year, reaching EGP 61.445 bn by the end of December 2023, compared to EGP 55.388 bn by the end of December 2022, an increase of EGP 6.057 bn.

Total loan portfolio and credit facilities at the bank were the third contributor to this growth, with a rate of 9.14%, an increase of approximately EGP 1.905 bn during the last year, reaching EGP 22.762 bn by the end of December 2023, compared to EGP 20.856 bn by the end of December 2022.

In addition, the size of the customer deposit portfolio surged by 5.60%, and an increase of approximately EGP 2.698 bn during 2023, reaching EGP 50.900 bn by the end of December 2023, compared to EGP 48.201 bn by the end of December 2022.