aiBank’s corporate sector achieves significant performance during H1-2024
First Bank
aiBank’s corporate sector witnessed a remarkable development during the first half of 2024, thanks to the efforts of Tamer Seif Al-Din, CEO and Managing Director of the Bank and his team.
This growth has not only increased the volume of loans, but also included strengthening the corporate deposits that have registered strong growth, reflecting the growing confidence of companies and corporates in the Bank's services
This outstanding performance has enhanced the Bank's position as a key player in the corporate loans sector, thanks to its effective strategy of increasing direct and syndicated loans and expanding the corporate customer base.
A record leap in corporate loans, its portfolio jumps 15% in 6M
The Arab Investment Bank increased its corporate loans significantly during the first half of this year, rising from EGP 15.3 bn by the end of 2023, to EGP 17.6 bn by the end of June 2024, with a growth of 15.1% and an increase of EGP 2.3 bn.
This strong performance was driven mainly by an increase in the bank's syndicated loans, which jumped by 24.7% during the first 6M of this year, to EGP 4.2 bn by the end of June 2024, compared to EGP 3.3 bn by the end of 2023, representing an increase of EGP 822.6 mn.
The Bank's direct loan portfolio also played a role in increasing the total corporate loans portfolio, exceeding EGP 13 bn by the end of June 2024, compared to EGP 11.5 bn by the end of 2023, with a growth of 13.8%, and an increase of EGP 1.6 bn, while the debit current account balance of corporates reached EGP 371.8 mn by the end of the same period.
aiBank’s corporate sector contributed 66.65% to the bank's total loans portfolio, which jumped to EGP 26.4 bn by the end of June 2024, compared to EGP 22.8 bn by the end of 2023, with a growth rate of 15.7% and an increase of EGP 3.6 bn.
The corporate sector accounts for 69.61% of the Arab Investment Bank's total deposit portfolio
The portfolio of corporate deposits in aiBank recorded strong growth during the first 6M of this year, jumping to EGP 44.7 bn by the end of June 2024, compared to EGP 35.8 bn by the end of 2023, with a growth rate of 25%, and an increase in contact with EGP 9 bn. The corporate sector accounted for 69.61% of the Bank's total deposit portfolio, after aiBank’s customer deposit portfolio rose to EGP 64.2 bn by the second quarter of 2024, compared to EGP 50.9 bn by the end of 2023, with a growth of 26.2% and an increase of EGP 13.3 bn.
For more details about the Arab Investment Bank and its achievements, click more
