Arab African International Bank’s (AAIB) consolidated financial statements showed an increase of 1% year-on-year in its profits during the full-year 2017.
Consolidated profits amounted to $260.35 million last year, compared to $257.7 million in 2016, according to the bank’s statement issued on Wednesday.
Administrative expenses declined to $77.45 million in 2017, down from $106 million in the previous year.
The lender’s standalone profits stood at $255.5 million in 2017 versus $251.58 million in 2016.
AAIB’s capital amounts to $500 million distributed over 100 million shares at a par value of $5 per share.