Cairo – Arab African International Bank (AAIB) has logged consolidated net profits after tax of $54.63 million in the first quarter (Q1) of 2022, higher than $32.22 million in Q1-21.

In the January-March 2022 period, the net interest income increased to $101.82 million from $81.44 million during the same period a year earlier, according to the bank’s latest data.

Meanwhile, the net income from fees and commissions totalled $16.08 million in the first three months (3M) of 2022, lower than $16.41 million in the year-ago period.

Earnings per share (EPS) settled at $0.50 in Q1-22, compared to $0.29 in Q1-21.

It is worth noting that in 2021, the standalone net profits of AAIB soared to $136.70 million from $80.04 million in 2020.

The standalone EPS went up to $1.23 in 2021 from $0.72 in 2020.

Two years ago, the lender had acquired a 12.25% stake in Palm Hills Developments for EGP 544.20 million.

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