The Arab African International Bank’s (AAIB) assets increased to EGP 91bn at the end of the first quarter (Q1) of 2015, according to a press release by the bank.
The figures compare to the EGP 79bn recorded last year, and mark a growth rate of 15.2%.
AAIB’s net profit increased by roughly EGP 116m, to reach EGP 398m after taxes, in Q1 of 2015, compared to EGP 282m in December 2014. Clients’ deposits also rose by almost EGP 7.3bn to reach EGP 72bn by the end of March 2015, compared to EGP 64bn in December 2014, an increase of 11.4%. This reflects AAIB’s success in attracting deposits and maintaining depositors’ trust.
The fund portfolio for companies at the bank reached EGP 31.4bn by the end of March 2015, a rise of 11.33% compared to December 2014.
The total equities of shareholders by the end of March amounted to EGP 9bn, compared to EGP 8.2 at the end of last year.
Hassan Abdalla, AAIB’s Vice Chairman and Managing Director, stated that the positive results of the bank in Q1 of 2015 confirms the bank’s successful growth strategy for more than 10 years, with the help of qualified manpower.