CIB Egypt bank H1 net profit at EGP 7.773 billion

Commercial International Bank (CIB), one of Egypt’s largest private banks, reported on Monday a net profit worth 7.773 billion Egyptian pounds ($410.4 million) for the first half of the year.

Earlier, net profit stood at 6.077 billion pounds in the first half of 2021.

Profit before tax also grew to 11.415 billion pounds at the end of June 2022 from 8.648 billion pounds in the same period in 2021.

Total assets surged to 521.6 billion pounds in the January-June 2022 period from 496.6 billion pounds in the January-June 2021.

Net interest income recorded 13.6 billion pounds at the end of June 2022, up from 11.6 billion pounds in the same period last year.