Arab Investment Bank’s Capital Raises to EGP1bln and EGP5.09bln Deposits

Arab Investment Bank of Egypt (AIB)’s Extraordinary General Assembly approved to increase its issued capital to EGP1 billion against EGP500 million capital, Chairman Hani Seif El-Nasr said.

In statements to Amwal Al Ghad, El-Nasr added that EGP500 million increases will depend on 3 years starting from the current year with the aim of supporting the bank’s expansion strategy and providing more credit to a large number of economic sectors.

The bank’s deposits achieved EGP1.57 billion increase to register EGP5.091 billion at the end of 2013 in compared to EGP3.516 billion at 2012 with 45% growth rate, El-Nasr noted.

Furthermore, the bank aims expanding in the Egyptian market during the upcoming period as small and medium sized projects have a great importance along with the Great development which witnessed by the bank’s subsidiaries.