aiBANK’s loans to deposit ratio records 43.22% by March- 2024end
First Bank
The separate financial statements of aiBANK for the financial period ended March 31 2024, reveled the bank recorded loans to deposits ratio of 43.22% by the end of March 2024, compared to 44.72% 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 rose by 14.26% and an increase of EGP 7.26 bn during the first quarter of this year, registering EGP 58.16 bn by the end of March 2024, compared to EGP50.90 bn by the end of December 2023.
The bank increased credit issuance to its customers by approximately EGP2.37bn during the first quarter of the current year, Total financing and facilitation for customers reaching EGP 25.14 bn by the end of March 2024, compared to EGP 22.76 bn by the end of December 2023.
In terms of financial position, the Bank achieved a growth rate of 10.16% during the first quarter of this year, recording its total assets of EGP 67.69 bn by the end of March 2024, compared to EGP61.45 bn by the end of December 2023, with an increase of EGP 6.24 bn.
aiBANK's net profit jumped by 171.56% in the first quarter of 2024 to record EGP 475.2mn, compared to EGP175mn during the same period in 2023, with an increase of EGP 300.2 nn.
