AAIB tops fastest growing Banks in Assets during 9M-2024
First Bank
Arab African International Bank (AAIB) significantly strengthened its financial position during this year, as evidenced by its portfolio of assets rising by 59.82% during the first 9 months of 2024, to 861.130 billion pounds by the end of September 2024, compared to 538.812 billion pounds by the end of 2023, with an increase of 322.318 billion pounds.
The strong growth of the AAIB led to its topping of the "First Bank" list of fastest-growing banks in assets during the first 9 months of 2024, maintaining its leadership for the second consecutive year, with the same list having been released during the corresponding period in 2023.
This achievement is the result of the Bank's thoughtful expansionary policies, its ability to manage its investment portfolio efficiently amid multiple economic challenges, as well as its success in providing innovative banking solutions that meet the needs of different customers.
Overall, the AAIB achieved a strong performance during this year, jumping its net profit by 122.62%, registering 11.461 billion pounds in the first 9 months of 2024, compared to 5.148 billion pounds in the same period from 2023, with an increase of 6.313 billion pounds.
The Bank's total customer loans to jumped by 43.077 billion pounds during the first 9 months of this year, registering 197.454 billion pounds by the end of September 2024, compared to 154.377 billion pounds by the end of 2023, a growth of 27.90%.
