Egypt’s AAIB registers $40m net profits in Q1-23
- Date: 15-Jun-2023
- Source: Zawya
- Sector:Financial Services
- Country:Egypt
Egypt’s AAIB registers $40m net profits in Q1-23
Cairo – Arab African International Bank (AAIB) generated net profits amounting to $40 million in the first quarter (Q1) of 2023.
The recorded value was higher than consolidated net profits after tax of $54.63 in Q1-22, according to the financial results.
AAIB posted net interest income valued at $109.20 million in the January-March 2023 period.
During the first three months (3M) of 2023, the total assets hit $12.60 billion, while the total loans reached $4.70 billion.
Total deposits stood at $8.40 billion as of 31 March 2023, bringing the loan-to-deposit ratio to 56%.
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