Corporate loans at AAIB grow by 24.4% recording EGP 135.8 bn during 2023
First Bank
The financial statements of arab african international bank 'AAIB', ending in December 2023, revealed that corporate loan portfolio of AAIB increased with a growth rate of 24.4%, an increase of EGP 26.62 bn during the last year.
The total portfolio of corporate loans in the bank reached approximately EGP 135.80 bn by the end of December 2023, compared to EGP 109.18 bn by the end of December 2022, accounting for 87.91% of the total customer loans.
The bank's debit current accounts jumped by 33.46% to record EGP 59.81bn by the end of December 2023 compared to EGP 44.81 bn by the end of December 2022, with an increase of EGP 15 bn.
Additionally, direct loan portfolio of the bank surged by 18.59%, reaching about EGP 25.60 bn by the end of December 2023, compared to EGP 21.59 bn by the end of December 2022, an increase of EGP 4.01 bn.
Syndicated loan portfolio witnessed a growth rate of 18.23% with an increase of EGP 7.59bn during 2023, recording around EGP 49.22 bn by the end of 2023, compared to EGP 41.63bn by the end of December 2022.
Total loans and facilities for customers increased by 22.47%, reaching EGP 154.48 bn by the end of December 2023, compared to EGP 126.13 bn by the end of December 2022, an increase of EGP 28.34bn.
