aiBANK’s net profits jump by 100%, recording EGP 901.6 mn during H1- 2024

The latest business results of aiBANK at the end of last June, revealed an increase in the bank’s net profit, with a growth rate of 100%, to record EGP 901.6 mn during the first 6 months of 2024, compared to EGP 450.2 mn during the same period of 2023.

Net interest income increased by 63%, reaching EGP1.9 bn in the first 6 months of 2024, compared to EGP1.2bn in the same period in 2023. Additionally, operational profit showed a growth rate of 53%, totaling EGP2.5 bn during the same period in 2024.

Concerning the bank’s financial position, the total portfolio of customer loans and facilities increased by 16% in the first 6 months of the current year, reaching EGP26.4 bn by the end of June 2024, compared to EGP22.8 bn by the end of December 2023.

Corporate loans in the bank increased by 15.4% from January to June of the current year, totaling EGP17.6bn by the end of June 2024, compared to EGP15.3bn by the end of December 2023.

Total portfolio of retail loans jumped by 17.2% during the first 6 months of the current year, reaching EGP8.8 bn by the end of June 2024, compared to EGP7.5 bn by the end of December 2023.

The bank also disclosed an increase in the total portfolio of customer deposits to EGP64.2bn by the end of June 2024, growing by 16% during the first 6 months of the current year, compared to EGP50.9 bn by the end of December 2023.

The bank's assets surged by 20.3% during the first 6 months of the current year, reaching EGP 73.9 bn by the end of June 2024, compared to EGP61.4 bn by the end of December 2023.