For the first time since 2018, AAIB returns to the list of the top five Banks in the loan market

The Bank's separate financial statements revealed the return of the Bank to the largest Banks Club in the loans Market for the first time since 2018, where the Bank was able to achieve this achievement after clinching fifth place in the loan market, replacing Banque du Caire.

This significant shift in the Bank's performance was the result of the efforts of Temer Waheed, Vice Chairman and Managing Director of the Bank, who worked to fully reformulate AAIB’s strategies, focusing on strengthening key sectors such as large companies, SME financing, as well as investing in modern banking technology to improve customer experience.

This was reflected in the volume of the Bank's loans, as the Bank’s total customer loans jumped by 24.9% during the first half of this year, reaching EGP 192.8 billion by the end of June 2024, compared to EGP 154.4 billion by the end of 2023, an increase of EGP 38.4 billion.

In contrast, Banque du Caire's total loans rose to EGP 192.7 billion by the end of June 2024, compared to EGP 173.9 billion by the end of 2023, a growth of 10 .81% and an increase of EGP 18.8 billion.

Although the volume of loans between Arab African International Bank and Banque du Caire is now minimal, this result reflects the strength of the accelerated growth achieved by AAIB compared to its competitors.

The financial performance in various aspects of the Bank during this year reflects a strong trend towards inclusive growth, with the Bank registering significant rises in many other financial indicators that emphasize its ambitious strategy and future vision to strengthen its position in the banking market.

AAIB’s  net profits rose to Pound 7.5 billion during the first half of 2024, compared to Pound 3.3 billion during the same period from 2023, representing an increase of Pound 4.2 billion.

Net interest income rose by 110%, registering EGP 14.7 billion in the first half of 2024, compared to EGP 7 billion in the same period from 2023, representing an increase of EGP 7.7 billion.