AAIB tops fastest growing banks in corporate deposits during 9M-2024

AAIB achieved strong growth in its portfolio of corporate deposits during the first 9 months of this year, jumping by 60.62%, registering 366.633 billion pounds by the end of September 2024, compared to 228.259 billion pounds by the end of 2023, an increase of 138.374 billion pounds

This significant performance prompted AAIB to top the list of the fastest growing banks in corporate deposits in the first 9 months of 2024, compared to fifth place in the same period in 2023

The Bank also managed to achieve strong growth in its portfolio of individual deposits as well, rising by 53.46% during the first 9 months of 2024, reaching 253.938 billion pounds by the end of September 2024, compared to 165.480 billion pounds by the end of 2023

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

At 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 customer loans  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%

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