Commercial International Bank Egypt 9-month net profit rose 24.4%

Egypt’s biggest listed bank, Commercial International Bank (CIB) said Thursday consolidated net profit rose 24.4 percent y-o-y to record 4.45 billion Egyptian pounds ($267.4 million) in the first nine months of the year.

Profit before tax also hiked 18.84 percent to around 5.829 billion pounds.

Loan portfolio climbed 8.27 percent to 60.707 billion as at September 30, from 56.797 billion pounds as at December 31, 2015.

Customers’ deposits recorded 178.07 billion pounds as at September 30, around 14.71 percent higher from 155.23 billion pounds as at December 31, 2015.

Meanwhile, CIB’s investments in treasury bills and other governmental notes fell 2.3 percent to 21.613 billion pounds as at September 30 versus 22.130 billion pounds as at December 31, 2015.

Total assets surged to 207.139 billion pounds from 179.5 billion pounds.