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Net operating income reached EGP337.5m, an increase of 31.9% over the same period in 2007 and total assets grew to EGP7.3bn reflecting a 25.9% increase. Loans to customers grew by 64 % to EGP4.1bn. The growth in the loan portfolio was funded primarily through an increase in the Customers' deposits which increased to EGP5.5bn against EGP3.9bn as at 31 December 2007.
"We continue to focus on developing the business in a conservative and sustainable manner. In the present conditions, marked by the unprecedented global credit crisis and an increasingly challenging business environment, our focus on risk management and customer service is intended to allow the business to grow without exposing our shareholders to unacceptable levels of risk."
said Mr. James Goold the CEO & Managing Director of Ahli United Bank (Egypt).
"We are also fortunate to have the support of Ahli United Bank of Bahrain which in these difficult times continues to benefit from its conservative business model. This has earned the Bank the continued confidence of the international financial community with both Fitch and S&P recently reaffirming AUB's Credit Rating as "A-"(stable) and Capital Intelligence reaffirming it's "A" (stable) rating." Mr. Goold added.
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Posted by Rima Ali Al Mashni
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