AIB’s Loan Portfolio Up To EGP 2.9 Bln In H1 2012

The Arab Investment Bank’s (AIB) loan portfolio rose by EGP 800 million, registering EGP 2.9 billion in the first half of 2012, up from EGP 2.1 billion at the end of 2011.

Sources said the bank’s portfolio of deposits surged by EGP 500 million, registering EGP 3.5 billion in the first half of 2012, up from EGP 3 billion at the end of 2011.

The bank targets to increase its value of deposits to reach EGP 4 billion through offering new savings instrument with a term of 3 years and a return of 8.5% and another savings instrument with a term of 5 years and a return of 9%.

The bank also plans 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.