I would like to extend my gratitude to AAIB board members for their dedication and commitment, especially the representatives of the Kuwait Investment Authority whose mandate ended in March 2014. I would also like to welcome the new board members and wish them success in carrying AAIB forward and achieving sustained growth in the future.
It gives me great pleasure to share with you that the Arab African International Bank has succeeded in maintaining its strong performance throughout the year despite the dynamics of both local and global markets. Egypt’s economy showed robust performance and remarkable resilience to the challenges it has been facing while global economic growth for 2014 was forecast at 3.3% following actual growth of 2.5% recorded in 2013.
2014 has seen Egypt come out of the bottleneck that has suffocated its economy over the preceding three years and the results of economic reform are becoming apparent. The second half of the year has seen an improvement in Egypt’s credit and economic risk ratings, indicating the government’s capacity to meet its obligations towards international financing organizations such as the International Monetary Fund and the World Bank.Read More
VICE CHAIRMAN & MANAGING DIRECTOR'S REPORTOn behalf of the Board of Directors, it gives me great pleasure to present to you the Arab African International Bank 2014 Annual Report. This report not only documents another year of growth, but is also quite special as it marks 50 years since the establishment of the bank.
This report reiterates the success of our strategy which maintains our position as a leading and robust, local financial institution with a strong regional footprint and our performance indicators prove AAIB’s financial strength despite mounting economic challenges, both locally and globally.