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Net operating income reached EGP70.9m, an increase of 11.5% over the same period in 2008 and total assets reached EGP7bn. Loans to customers grew by 1.9% to EGP4.18bn.
Commenting on the results of the first quarter of 2009, James Goold, CEO and Managing Director of Ahli United Bank (Egypt), said:
"AUBE continues to execute its strategy to grow its business in a controlled and conservative manner by offering attractive products and excellent levels of service to its customers. Since the start of the current year we have made the experience of being a customer of AUBE even more rewarding by launching a number of internet based services such as e-statements and online banking."
An important part of AUBE's offering is to act as a bridge between Egypt and the Gulf. Being part of the larger, Bahrain based Ahli United Bank with subsidiaries in Bahrain, Qatar, Kuwait, Oman, Iraq and London allows the Bank to offer seamless services to our customers who need a bank that can support their needs beyond a single country. Whether our customer is an Egyptian expatriate in Qatar needing a bank to support the purchase of a family home in Egypt or a Kuwaiti based company investing in the exciting growth of the Egyptian economy, the AUB group has the products and services to make the process run smoothly."
AUB's Group performance continues to be recognized by the international financial industry. Recently AUB (Bahrain) - the parent bank of AUB (Egypt)- was named the 'Best Bank in the Middle East 2009' by Global Finance, the fourth consecutive year AUB (Bahrain) has received this prestigious accolade.
Posted by Rima Ali Al Mashni
