AiBANK records robust growth in revenues during 2022

AiBANK records robust growth in revenues during 2022

Cairo: The general assembly of aiBANK approved the bank’s financial statements on 26/3/2023 for the fiscal year ending on December 31, 2022, which was characterized by remarkable growth and development in business results amounting to EGP 525.6 million in net profit, and EGP 1,791 million in net interest income by the end of 2022, compared to EGP 1,113 million for the same period last year; marking a 61% increase, in the light of the acquisition by EFG Hermes Holding and the Sovereign Fund of Egypt (TSFE), and the change of the bank's legal structure to become an Egyptian joint stock institution under Law 159 of 1981.

Tamer Seif El-Din, CEO and Managing Director of aiBANK, expressed his delight in achieving outstanding business results in 2022, despite local and global challenges, which reflects the bank's management's clear and stable vision and strategy that focuses on expansion and differentiation among competition through restructuring all the bank sectors to provide distinguished service, double its business size, and diversify its activities associated with well-studied policies for modernization and development, adopting a due diligence approach while taking the right precautions in confronting challenges, dealing with data, and maintaining an acceptable level of risk.

As part of the