CIB bank Egypt Q1 Net Profit up 38% year-on-year

By Yomna Yasser On May 14, 2015

Egypt’s largest private sector bank, Commercial International Bank (CIB), reported Wednesday a 38 percent rise in first quarter net profits compared to the same period last year.

It said its quarterly earnings were 1.11 billion Egyptian pounds ($145.31 million), up from 805 million in the same period last year. Revenues for the quarter rose 47 percent to 2.584 billion pounds.

CIB had in 2014 posted a 36 percent rise in net profit for the full year.

Source: Reuters