aiBank achieves strong performance in its financial efficiency indicators during 2023

aiBank has achieved progress in its financial efficiency indicators during the last year. The following analysis highlights the bank's development in financial efficiency indicators during 2023.

The separate financial statements of aiBank, ending on December 31, 2023, revealed that the bank achieved an increase in return on average equity (ROE) of 19.50% during 2023, compared to 10.31% during 2022.

The return on average assets (ROA) of the bank reached 1.97% during the last year, compared to 1.04% during 2022.

The main reason for the increase in ROE and ROA is that the bank's net profits increased with a growth rate of 119%, reaching EGP 1.150bn during 2023, compared to EGP 526mn during the same period in 2022, an increase of EGP 624mn.

In terms of earnings per share, the bank recorded a growth rate of 127% during 2023, with the bank's share of net profits reaching about EGP 1.18 per share during 2023, compared to EGP 0.52 during 2022.

It is worth mentioning that the bank achieved a growth of 21.5% in its equity portfolio during 2023, as it increased from EGP 5.32bn at the end of December 2022 to EGP 6.47bn at the end of December 2023, an increase of EGP 1.43bn.

The bank's asset portfolio also surged by 11% during the last year, reaching EGP 61.446bn at the end of December 2023, compared to EGP5.327bn at the end of December 2022, an increase of EGP 6.057bn.