AAIB's net profits grow by 59%, recording $228mn during 2023
First Bank
Arab African International Bank
The business results of Arab African international Bank, for the period ending on December 31, 2023, revealed an increase in its net profits by 59%, during the last year to record $228mn during 2023. Compared to $143mn during 2022.
Net interest income rose by 22% over the past year, registering $506mn in 2023, compared to $413mn in 2022.
The total portfolio of the bank's assets increased by 45% during the last year, reaching $17.416bn by the end of December 2023, compared to $12.025bn at the end of December 2022.
The size of the bank's deposit portfolio also increased to $12.726bn by the end of December 2023, compared to $8.809Bn at the end of December 2022, showing a growth rate of 64% during the last year.
