CIB records profits of LE 9.58B in 2018

CAIRO – 5 February 2019: The Commercial International Bank’s (CIB) consolidated profits amounted toLE 9.58 billion during 2018, compared to LE 7.54 billion in 2017, including minority rights, with an increase of 27.08 percent.

The financial indicators revealed that net income jumped to LE 18.14 billion, from LE 12.5 billion in the prior year.

As per standalone results, the bank marked a profit of LE 9.55 billion in 2018, compared to LE 7.55 billion in 2017, with an increase 26.55 percent.

The bank recorded consolidated profits of LE 7.02 billion during the first nine months of 2018, compared to LE 5.67 billion during the same months of 2017, including minority rights, with an increase of 23.75 percent.

During the first half of 2018, the bank’s consolidated profits hiked 23.4 percent, recording LE 4.42 billion, compared to LE 3.58 billion during the same period of 2017.

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.