AAIB's retail loans grow by 8.4%, reaching EGP 20 bn during Q1-2024

The separate financial statements of Arab African International Bank-AAIB, for the period ending on March 31 of the current year, have revealed a growth in the bank's portfolio of retail loans by a rate of 8.39% during Q1- 2024, an increase of EGP1.57bn.

The size of the bank's portfolio of retail loans reached EGP 20.23 bn by the end of March 2024, compared to EGP 18.67 bn by the end of December 2023.

Contributing to this growth, the size of debit current accounts portfolio jumped by 36.89% to record EGP3bn by the end of March, compared to EGP 2.19bn by the end of December 2023.

In addition, the Bank's personal loans rose by 4% and witnessed an increase of EGP 326 mn during the first quarter of this year to record EGP 8.48bn by the end of March 2024, compared to EGP 8.15bn by the end of December 2023.

The size of bank's credit cards increased by 14.19%, with an increase of EGP 132 mn during the first 3 months of 2024, moving from EGP 929 mn by the end of December 2023, to reach EGP 1.06bn by the end of March 2024.

The bank's portfolio of Mortgage loans increased by 1.59%, with an increase of EGP44mn, to record EGP 2.81bn by the end of March 2024, compared to EGP 2.77bn by the end of December 2023.

It is worth noting that the total customer loan portfolio rose by 21.70% and an increase of EGP 33.5 bn during the first quarter of the current year, reaching EGP 187.87bn by the end of March 2024, compared to EGP 154.38bn by the end of December 2023.