AAIB’s loans to deposit ratio records 38.75% by the end of March 2024

The separate financial statements of the Arab African International Bank (AAIB) for the financial period ended March 31, the bank recorded loans to deposits ratio of 38.75% by the end of March 2024, compared to 39.21% by the end of December 2023.

Despite the decline in the loans to deposits ratio, the Bank achieved a surge in its main indicators, with the volume of its deposit portfolio rising by 23.14% and an increase of about EGP 91.13 bn during the first quarter of this year, registering EGP 484.87 bn by the end of March 2024, compared to 393.74 bn by the end of December 2023.

The bank increased customer loans by EGP 33.50 bn, with the total portfolio of customer loans and facilities increasing by 21.70% during the first quarter of this year, reaching EGP 187.87 bn by the end of March 2024, compared to 154.38 bn by the end of December 2023.

In terms of financial position, the Bank achieved a growth rate of 29.38% during the first quarter of this year, recording its total assets of about EGP 697.12 bn by the end of March 2024, compared to 538.81 bn by the end of December 2023, with an increase of EGP 158.31 bn.

AAIB's net profit jumped by 184% in the first quarter of 2024 to EGP 3.51 bn, compared to 1.24 bn during the same period in 2023, with an increase of EGP 2.28 bn.