aiBANK tends to achieve balance between financial investments and loans in its investment plans
First Bank
Over the past year, the Arab Investment Bank seeks to achieve a balance between its investment plans of financial investments and loans.
aiBANK reduced its trend towards financial investments, dropping its relative weight to 34.49% by the end of 2023 of its total assets, compared to 41.01% by the end of 2022, but it remained the first investment destination for the bank to employ the funds of its depositors.
While maintaining its investment policy regarding loans, despite its relative decline, acquiring about 34.31% of the Bank's total assets by the end of 2023, compared to 34.90% by the end of 2022.
Bank balances represented the third largest component of the Bank's asset portfolio, with a relative weight of 18.76% of the Bank’s total assets by the end of 2023, compared to 14.66% by the end of 2022, while the remaining percentage was concentrated in other miscellaneous assets.
The policies followed by the Arab Investment Bank in 2023 resulted in good growth rates, with the bank's net profit rising by 118.85%, up to EGP 1.2 bn last year, compared to EGP 525.6 mn in 2022, with an increase of EGP 624.7 mn.
Net interest income rose from EGP 1.8 bn in 2022 to EGP 2.5 bn in 2023, with a growth rate of 41.8% on an annual basis.
Net fees and commissions income jumped to EGP 907.6 mn in 2023, compared to EGP 316.1 mn in 2022, with a growth of 187.2%, and an increase estimated at EGP 591.6 mn.
In terms of its financial position, the Bank's asset portfolio rose by 10.9% on an annual basis, recording EGP 61.4 bn by the end of 2023, up from EGP 55.4 bn by the end of 2022, with an increase of EGP 60.6 bn.
The Bank's deposit portfolio rose from EGP 48.2 bn by the end of 2022, to EGP 50.9 bn by the end of 2023, with a growth of 5.60% on an annual basis.
Net customer loans and facilities jumped by EGP 1.7 bn last year, registering EGP 21.1 bn by the end of 2023, compared to EGP 19.3 bn by the end of 2022.
The Bank's total financial investments reached EGP 21.2 bn at the end of last year, compared to EGP 22.7 bn at the end of 2022.
