AAIB: retail loans jump by 44%, reaching EGP 26.8 bn during H1-2024

The separate financial statements of Arab African International Bank-AAIB, for the period ending on June 30 of the current year, have revealed a growth in the bank's portfolio of retail loans by a rate of 43.84% during H1- 2024, an increase of EGP8.184bn.

The size of the bank's portfolio of retail loans reached EGP 26.582 bn by the end of June 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 EGP8.446bn by the end of June, compared to EGP 2.19bn by the end of December 2023.

The size of bank's credit cards increased by 16.50%, with an increase of EGP 153 mn during the first 6 months of 2024, moving from EGP 929 mn by the end of December 2023, to reach EGP 1.03bn by the end of June 2024.

The bank's portfolio of Mortgage loans increased by 0.65%, with an increase of EGP18mn, to record EGP 2.785bn by the end of June 2024, compared to EGP 2.77bn by the end of December 2023.In addition, the Bank's personal loans rose by 1.85% and witnessed an increase of EGP 151 mn during the first half of this year to record EGP 8.305bn by the end of June 2024, compared to EGP 8.154bn by the end of December 2023.

It is worth noting that the total customer loan portfolio rose by 24.86% and an increase of EGP 38.375 bn during the first half of the current year, reaching EGP 192.752bn by the end of June 2024, compared to EGP 154.38bn by the end of December 2023.