{"id":323204,"date":"2021-09-05T12:36:16","date_gmt":"2021-09-05T12:36:16","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=323204"},"modified":"2021-09-05T12:36:16","modified_gmt":"2021-09-05T12:36:16","slug":"arab-african-international-bank-first-half-profit-13-4-up-assets-hit-14-billion","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/09\/05\/arab-african-international-bank-first-half-profit-13-4-up-assets-hit-14-billion\/","title":{"rendered":"Arab African International Bank first-half profit 13.4% up, assets hit $14 billion"},"content":{"rendered":"

Egypt\u2019s Arab African International Bank (AAIB) reported over 13 percent year-on-year growth in profit for the first half of the year.<\/p>\n

Profit stood at $77.288 million at the end of June 2021, up from $68.121 million at the end of June 2020.<\/p>\n

Income tax expense rose to $43.503 million at the end of June, compared with $42.688 million in the same period last year.<\/p>\n

Profit before tax also surged to $120.791 million from $110.809 million last year.<\/p>\n

Net income from fees and commissions recorded $37.994 million, up from $30.915 million last year.<\/p>\n

Interest income and similar revenues stood at $435.714 million in the January to June period.<\/p>\n

Net interest income reached $169.623 million at the end of June from $186.754 million last year.<\/p>\n

The bank\u2019s total assets were $13.934 billion at the end of June 2021, from $14.317 billion at the end of December 2020.<\/p>\n

Portfolio of loans and advances accounted for $4.745 in June, up from $4.178 billion in December.<\/p>\n

Customers\u2019 deposits stood at around $9.650 billion at the end of June, from $9.771 billion at the end of December 2020.<\/p>\n

Personal loans rose 14.9 percent to around $269.740 million at the end of June, from $234.602 million at the end of December 2020.<\/p>\n

Real estate loans also climbed to $125.817 million in June from $117.615 million in December.<\/p>\n

AAIB was established by special law as a joint venture between the Central Bank of Egypt (CBE) and Kuwait Investment Authority (KIA) and was incorporated in 1964 as Egypt\u2019s first Arab multinational bank. With each party holding a 49.37 percent stake, CBE and KIA constitute the core of AAIB\u2019s shareholder base with a dollar-based equity.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt\u2019s Arab African International Bank (AAIB) reported over 13 percent year-on-year growth in profit for the first half of the year.<\/p>\n","protected":false},"author":4,"featured_media":323205,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,33],"tags":[241],"class_list":["post-323204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-main","tag-arab-african-international-bank"],"yoast_head":"\nArab African International Bank first-half profit 13.4% up, assets hit $14 billion - egy-africa<\/title>\n<meta name=\"description\" content=\"Egypt\u2019s Arab African International Bank (AAIB) reported over 13 percent year-on-year growth in profit for the first half of the year.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2021\/09\/05\/arab-african-international-bank-first-half-profit-13-4-up-assets-hit-14-billion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Arab African International Bank first-half profit 13.4% up, assets hit $14 billion - 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