Arab International Bank’s Deposits Drop 44.5% In 2012

The Arab International Bank’s (AIB) deposits fell US$ 735.8 million (44.5%) to reach US$ 1.650 billion at the end of 2012, compared to US$ 2.386 billion at the end of 2011.

The bank’s financial statements showed that the loans and credit facilities offered to its customers rose US$ 98.8 million to reach US$ 1.462 billion at the end of last year, compared to US$ 1.363 billion at the end of 2011.

AIB’s funds and balances held by other banks reached US$ 152.4 million at the end of 2012, compared to US$ 396.9 million at the end of 2011.

The bank has reported net profit of US$ 27.049 million at the end of last year, compared to US$ 25.669 million at the end of 2011, registering an increase of US$ 1.380 million.

It is worth mentioning that the Arab International Bank plans to start conducting financial transactions in Egyptian pound by the second half of 2013 after it has become under the supervision of the Central Bank of Egypt (CBE) last year.