AIB’s Deposits Up to EGP 3.5 Bln In H1 2012

The Arab Investment Bank’s (AIB) deposits reached EGP 3.5 billion at the end of the first half of 2012, up from EGP 3 billion at the end of 2011.

The bank plans to increase its portfolio of deposits to EGP 4 billion through offering new savings account with a term of 3 years and a return of 8.5% and another savings account with a term of 5 years and a return of 9%.

The bank also targets to launch a number of sharia-compliant banking products such as Al-Khair investment certificate with terms of 3, 5, and 10 years by the end of this month. These instruments are expected to boost the bank’s deposit portfolio.

Sources added that the bank’s individual loans registered EGP 100 million at the end of the first half of 2012.