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AFGHANISTAN |
Best Bank: Afghanistan International Bank | |
Afghanistan International Bank (AIB) remains the Afghan institution that most successfully measures itself against international standards. It is the country’s biggest bank, the most liquid and the most profitable. It also has a new chief executive, Joseph Carasso.
Perhaps more significant still is an aspiration for international best practices in corporate governance that date back to its foundation in 2004. Tellingly, it is the only bank in Afghanistan with US dollar clearing through a recognized international bank – an essential role.
Nothing is easy in Afghanistan, still less so during a pandemic, but AIB remained profitable and grew assets and deposits during our period in review. Its capital adequacy ratio of 15.43% is a standout. Non-interest income, at 64% of total revenue, is promising, as is the rollout of the bank’s Digital at the Core strategy.
A strong commitment to corporate social responsibility (CSR), underpinned by a priority to empower women, is admirable.