CIB hits net income of LE2.7B in Q2 2019

CAIRO – 9 July 2019: The Commercial International Bank (CIB) recorded a consolidated net income of LE 2.71 billion during the second quarter of 2019, marking an increase of 13 percent on a year-on-year basis.

CIB added in a press release that its consolidated revenues hiked 4 percent on an annual basis, accomplishing LE 5.21 billion.

As per the first half of 2019, the bank’s consolidated net income hit LE 5.36 billion, with a 21 percent increase compared to the same half of 2018.

During the first quarter, the bank recorded profits of LE 2.64 billion, compared to LE 2.02 billion during the same quarter of 2018.

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.