AIB-Egypt Attains EGP89mn Profits, Allocates 2% for Slums

Arab Investment Bank of Egypt (AIB) Chairman Hani Seif El-Nasr said his bank attained EGP89 million before taxes within 2013.

The total value of budget reached around EGP5.980 billion at the end of 2013 against EGP4.594 billion at 2012-end registering 30% growth rate, El-Nasr spoke to Amwal Al Ghad.

The bank’s General Assembly decided to denote with 2% from its net profits in favor of  Slums initiative which offered recently by Federation of Egyptian banks(FEB).

Meanwhile, FEB  headed by Mr. Hisham Ezz Al-Arab agreed to allocate the annual profits of the banks which ranging between 1.5% to 2% with the aim of developing slums in the funds of FEB with initial capital up EGP150 million.