Top Bank: aiBANK continues its onward performance after EFG Hermes acquisition

Top Bank: aiBANK continues its onward performance after EFG Hermes acquisition

Arab Investment Bank (aiBANK) has topped First Bank list of fastest growing banks in corporate loans during the first half of 2022. The bank’s corporates loans portfolio has jumped by 68.42 % to record EGP 14 billion by the end of June 2022 compared to 7.5 billion pounds by end of 2021.

EFG Hermes Holding has finalised its acquisition of a 51 per cent stake in Arab Investment Bank (aiBANK) IN 2021. The transaction has seen EFG Hermes Holding assume control of aiBANK, with TSFE Financial Services & Fintech Subfund – a subfund owned by the sovereign fund of Egypt – acquiring a 25 per cent stake.

Arab Investment Bank (aiBANK) has continued its strong performance. It has outlined an ambitious strategy under the leadership which led First Bank to choose it over other banks on its rating lists during the current year.

The bank’s new strategy is based on offering more innovative products and services to meet the needs of its customers. It also aims at maintaining the quality, efficiency and effectiveness of its banking operations.

The bank focuses on providing its services to all its customers through more than 30 commercial and Islamic branches spread all over Egypt, while working on expanding geographically and opening new branches during the next stage, as well as expanding its ATM network to cover most of the vital places.