CIB records profits of LE 4.4B during H1 2018

CAIRO – 2 August 2018: The Commercial International Bank (CIB) announced that its consolidated profits hiked 23.4 percent during the first half of 2018, recording LE 4.42 billion, compared to LE 3.58 billion during the same period of 2017.

The financial indicators showed that the consolidated revenues increased 33 percent and the loans’ portfolio jumped 15 percent, compared to the first six months of 2017.

As per standalone results, CIB’s profit rose 22.45 percent during the first six months of 2018, to LE 4.41 billion, compared to LE 3.6 billion during the same period of the previous year.

The standalone operating income recorded LE 9.14 billion at June 2018, compared to LE 7.17 billion at June 2017, with an increase of 27 percent.

The bank’s profit in 2017 increased 25 percent, recording LE 7.5 billion after taxes, compared to LE 6 billion after taxes in 2016.

The Commercial International Bank - Egypt (CIB) is a public company, listed on the Egyptian Exchange (EGX) since February 1995.

Founded in 1975, CIB operates within the banks sector focusing on Diversified Banks. It has 24 subsidiaries operating across Egypt and the United Kingdom.