CIB Acquires 8.35% Market Share In Loans

The Commercial International Bank (CIB) has the largest market share in loans among private banks in Egypt as it acquired 8.35% market share in loans last August. The bank’s portfolio of loans surged by 1.2% to reach EGP 40.14 billion at the end of last September, compared to EGP 39.67 billion at the end of 2011.

The financial statements showed that the bank’s corporate loans accounted for EGP 36.36 billion (86%) and retail loans accounted for 5.94 billion of the loan portfolio.

The loan-to-deposit ratio registered 55.2% at the end of last September. The bank’s deposits portfolio grew by 9.72% to reach EGP 78.53 billion at the end of last September, compared to EGP 71.57 billion at the end of 2011. The bank acquired 7.59% market share in loans.

The non-performing loans accounted for 3.39% of loan portfolio, compared to 2.81% at the end of 2011. CIB’s debt-service coverage ratio registered 116% as loan loss provision reached EGP 1.7 billion.

The bank’s provisions reached EGP 407 million at the end of Q3 of 2012, compared to EGP 312 million at the end of Q3 of 2011.