AAIB tops fastest-growing Banks on First Bank Depositor Confidence Index during 9M-2024

AAIB achieved remarkable growth in its portfolio of customer deposits during this year, jumping by 57.61% in the first 9 months of 2024, reaching 620.571 billion pounds by the end of September 2024, compared to 393.739 billion pounds by the end of 2023, with an increase of 226.832 billion pounds

This outstanding performance prompted the AAIB to top the "First Bank" index for depositors' confidence in banks operating in the Egyptian banking sector in the first 9 months of 2024.

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, 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, an increase of 6.313 billion pounds

Profit before income taxes rose by 129.49%, reaching 16.884 billion pounds during the first 9 months of 2024, compared to 7.357 billion pounds in the same period from 2023, an increase of 9.526 billion pounds

Net interest income rose to 21.683 billion pounds during the first 9 months of 2024, compared to 11.047 billion pounds during the same period of 2023, a growth of 96.28% and an increase of 10.635 billion pounds

Net fees and commissions income  rose from 2.200 billion pounds during the first 9 months of 2023, to 3.432 billion pounds during the same period of 2024, a growth rate of 55.98% and an increase of 1.231 billion pounds

Regarding the bank's financial position, the asset portfolio rose to 861.130 billion pounds by the end of September 2024, compared to 538.812 billion pounds by the end of 2023, a growth of 59.82% and an increase of 322.318 billion pounds

The Bank's total loans to customers 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 with 154.377 billion pounds by the end of 2023, a growth of 27.90%

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