Arab Finance: The Arab Investment Bank’s (aiBANK) net profits surged 119% year on year (YoY) in 2023 to EGP 1.15 billion, as per an emailed press release.

Net interest income increased by 42% to EGP 2.5 billion in 2023, compared to around EGP 1.8 billion in 2022.

Moreover, the bank reported a 6% increase in customer deposits at the end of 2023, hitting a new record of EGP 50.9 billion, compared to EGP 48.2 billion in December 2022

The aiBANK’s total assets went up by 11% to EGP 61.4 billion at the end of 2023, compared to EGP 55.4 billion in December 2022.

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