Commercial International Bank’s Net Profit Hit EGP 2.2 Bln At End-2012

By Administrator On Feb 20, 2013

The Commercial International Bank (CIB) achieved net profit of EGP 2.202 billion at the end of 2012, compared to EGP 1.748 billion at the end of 2011, registering an increase of 25.9% (EGP 453.8 million), according to the bank’s non-consolidated financial statements.

The bank revealed in a statement today that annual revenues reached EGP 5.34 billion in 2012.

The bank’s consolidated financial statements showed that the bank achieved net profit of EGP 2.226 billion in 2012, compared to EGP 1.614 billion in 2011, registering an increase of 37.9% (EGP 612.7 million).

The bank added in the statement that it accepted the resignation of Robert Willemstad, non-executive member of the board of directors.