With a growth rate of 122.6%, AAIB recorded the fastest quarterly growth in profits during 9 years

AAIB achieved strong net profit growth, jumping by 122.6% in the first 9 months of 2024, marking the fastest quarterly growth in 9 years, thanks to the efforts of Temer Waheed,  Chairman and Managing Director of the Bank and his team.

This growth was the result of strategies to improve the efficiency of asset management and diversify sources of income, as well as a significant expansion in the volume of loans and assets

The net profits of AAIB rose to 11.5 billion pounds in the first 9 months of 2024, compared to 5.1 billion pounds in the same period from 2023, with an increase of 6.3 billion pounds

Highlighting the growth rates achieved over the past years, the Bank achieved a net profit growth of about 76.2% during the first 9 months of 2023, while growth of about 70.7%, 77.2% during the same period of 2022 and 2021 respectively.

Net profits experienced strong declines during the first 9 months of 2020 and 2019, falling by about 60.3% and 35.8% respectively.

As for the growth rate of the Bank's net profits during the first 9 months of 2018, it was 17%, while it registered an increase of about 86.1%, 38.2% during the same period in 2017 and 2016, respectively.

By focusing on providing innovative services and integrated solutions that meet customers' needs, the Bank seeks to consolidate its presence as a leading financial institution capable of adapting to ongoing economic changes, enhancing its competitiveness in a dynamic market environment and underscoring its aspirations for further success in the future.

Regarding the bank's financial position, the asset portfolio rose to 861.13 billion pounds by the end of September 2024, compared to 538.81 billion pounds by the end of 2023, with a growth of 59.82% and an increase of 322.32 billion pounds

Customer deposit portfolio rose by 57.61% in the first 9 months of this year, reaching 620.57 billion pounds by the end of September 2024, compared to 393.7 billion pounds by the end of 2023, an increase of 226.83 billion pounds

The Bank's total customer loans jumped by 43.1 billion pounds during the first 9 months of this year, to register 197.5 billion pounds by the end of September 2024, compared to 154.4 billion pounds by the end of 2023, a growth of 27.90%