CIB bank Egypt nine-month net profit up 27%

Egypt’s largest listed bank Commercial International Bank (CIB) posted a 27 percent rise nine-month net profit to 5.648 billion Egyptian pounds ($319.8 million), the Egyptian bank said Thursday.

The January-September customer deposits also increased by 7 percent, reaching 247.734 billion pounds from 231.741 billion pounds in the same period last year.

Total loans and facilities grew 4 percent to 101.763 billion pounds from 97.467 billion pounds last year.

The bank’s assets recorded a 6 percent growth, totalling 282.88 billion pounds at the end of September, compared to 267.544 billion pounds last year.