Loans balances top aiBank's investment trends priorities by H1-2024 End

aiBank moved in the first half of this year towards giving customers loans the highest priority in their investment trends. This came at the expense of the portfolio of financial investments in the first 6 months of 2024.

Highlighting the Bank's investment trends, the relative difference in the investment trends of aiBANK has widened in both the portfolio of financial investments and customer loans, with the loan portfolio controlling the largest proportion to account for about 35.71% of the Bank's total assets by the end of June, compared to 37.10% by the end of December 2023.

The portfolio accounted for 28.96% of the Bank's total assets by the end of June 2024, compared to 34.49% of total assets by the end of 2023.

The relative difference between customers loan portfolio and financial investments widened to 6.75% during the first 6 months of 2024, compared to a relative difference of 2.61% by the end of 2023.

In-house bank balances were third largest in the bank's portfolio, rising to a relative weight of 26.34% of the bank's total assets by the end of June 2024 compared to 18.76% by the end of December 2023, approaching the relative weight of the financial investment portfolio of 28.96%

Central Bank balances were ranked fourth among the Bank's investment trends, accounting for about 6.97% of the Bank's total assets by the end of June 2024, compared to a relative weight of 6.90% of its total assets by the end of 2023

In the first half of 2024, the Bank achieved strong growth rates in its financial indicators, with net profits rising by 100%, after registering EGP 901.6 mn in the first half of 2024, compared to 450.2 mn during the same period in 2023.

Net return income rose to EGP 1.9 bn in the first 6 months of 2024, compared to 1.2 billion pounds in the same period of 2023, with a growth rate of 63%.

In terms of its financial position, the Bank's asset portfolio rose by 20.3%, to EGP 73.9 bn by the end of June 2024, compared to EGP 61.4 bn by the end of 2023, with an increase of EGP 12.41 bn.

The Bank's deposit portfolio rose from EGP 50.9 bn by the end of 2023 to EGP 64.2 bn by the end of the first half of 2024, with growth of 16%.