ICEC

Arab Investment Bank aims to increase its loans portfolio to 15bln pounds

The Arab Investment Bank aims to boost its loans portfolio to 15 billion Egyptian pounds by the end of 2018, up by 50% from 2017, according to the chairperson of the bank Hani Seif El Nasr.

He said that the bank aims to raise deposits to 32 billion Egyptian pounds by the end of the year, up 30% from 2017, next to an increase of profits of 30%.

the total value of dollar liquidity  recorded $ 822 million which is pumped by the bank to fund foreign trade operations either  directly or through interbank market.

Seif El Nasr added that  has succeeded in increasing  its credit facilities and loans portfolio to register 9.6 billion Egyptian pounds by the end of 2017, targeting growth rates of 50 percent during the current year, of which 40 percent is directed to small and medium projects.

He added that the AIBK aims to boost its SME portfolio to EGP 12.3bn by the end of 2018.

He noted that the bank also intends to boost the number of ATMs to 400 in 2018, up from only 60 before 2012.

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