CIB’s gains LE 7.5B in 2017

CAIRO – 1 February 2018: Commercial International Bank (COMI) announced on Thursday that the bank’s profit in 2017 increased 25 percent, compared to profits in 2016, according to a press release of the Egyptian Exchange.

The release clarified that the net profit recorded LE 7.5 billion after taxes in 2017, compared to profits of LE 6 billion in 2016 after taxes.

CIB’s board purposed fiscal year cash dividend of LE one per share, according to a release of the Egyptian Exchange.

The bank added that the board suggested distributing LE 1.16 billion to shareholders over last year, compared to dividends of LE 576.9 million in 2016.

“CIB seeks to increase the legal allocates by LE 377 million to record LE 1.71 billion, besides rising the general allocates by LE 3.6 billion to reach LE 12.6 million,” the release pointed out.

Commercial International Bank - Egypt (known as: CIB) is a public company, listed on Egyptian Exchange (EGX) since February 1995. CIB operates within the Banks sector focusing on Diversified Banks. It has 24 subsidiaries operating across Egypt and United Kingdom. CIB is based in Giza, Egypt and was established in June 1975.

The CIB’s share rose at 11:26 AM (Cairo Time) 0.68 percent to LE 78.87.