Egypt: aiBANK records $56.1mln revenues in 2022

The general assembly of aiBANK approved the bank’s financial statements on 26 March for the fiscal year ending on 31 December 2022.

The bank reported EGP 525.6m in net profits and EGP 1.79bn in net interest income in 2022, compared to EGP1. 113bn in 2021, a 61% increase.

in the light of the acquisition by EFG Hermes Holding and the Sovereign Fund of Egypt (TSFE), and the change of the bank’s legal structure to become an Egyptian joint stock institution under Law 159 of 1981.

Tamer Seif El-Din, CEO and Managing Director of aiBANK, expressed his delight in achieving outstanding business results in 2022, despite local and global challenges, which reflects the bank’s management’s clear and stable vision and strategy that focuses on expansion and differentiation among competition through restructuring all the bank sectors to provide distinguished service, double its business size, and diversify its activities associated with well-studied policies for modernization and development, adopting a due diligence approach while taking the right precautions in confronting challenges, dealing with data, and maintaining an acceptable level of risk.

As part of the reform and development restructuring, the bank has developed a clear strategy to invest in the human element through continuous human capital development, as well as investing in technological solutions and launching a distinguished package of banking products and services to meet the needs of customers and shareholders.