Arab African International Bank (AAIB)’s retail banking portfolio rose to EGP 1.5 billion, registering a good growth rate despite the unstable economic situation Egypt witnessed.
AAIB targets doubling retail banking portfolio to register EGP 3 billion, up from EGP 1.5 billion in 2011, through expanding in offering retail banking products such as car loans, sources said.
The volume of car loans reached EGP 350 million; from which 15 thousand cars benefitted.
AAIB offers car loans through cooperating with more than 40 suppliers and agents across Egypt.
Sources added AAIB acquires 8% of the car loan market share in Egypt.
AAIB also targets increasing growth rates to range from 5% to 10% after the beginning of 2011’s 40%-50% growth rates retreated due to the turmoil that followed 25th of January revolution. However, the Egyptian market has been recently witnessing a gradual improvement.