AAIB Corporate loans grow by 23.5%, reaching EGP 167.6 bn by March-2024 end

The separate financial statements of Arab African International Bank (AAIB), ending on last March 31, have revealed a growth rate of 23.53% in the portfolio of corporate loans, achieving an increase of EGP 31.93bn during the first quarter the current year.

Total portfolio of corporate loans in the bank reached equivalent to EGP 167.64 bn by the end of March 2024, compared to EGP 135.71 bn by the end of December 2023.

Total portfolio of Syndicated loan jumped by 26.82%, with an increase of EGP 13.19 bn during the first 3M of last year, reaching equivalent to EGP 62.38 bn by the end of March 2024, compared to EGP 49.18 bn by the end of December 2023.

Direct loans portfolio witnessed a growth rate of 22.46% with an increase of EGP 5.75 bn during the first quarter of 2024, recording equivalent to EGP 31.33 bn by the end of March 2024, compared to Approximately EGP 25.59bn by the end of December 2023.

Debit current accounts portfolio in the bank experienced a growth of 21.77%, with an increase of equivalent EGP 13bn during the first 3 months of this year, reaching a value of EGP 72.78bn by the end of March 2024, compared to equivalent EGP 59.77 bn by the end of December 2023.

It is worth mentioning that the total customer loans and facilities at the bank recorded about EGP 187.87bn by the end of March 2024, compared to EGP154.38bn by the end of December 2023, to grow by 21.70% and achieve an increase of EGP 21.70bn during the first quarter of the current year.