CIB injects funds of EGP4.1bln in retail banking in 2019

Egypt’s largest listed bank, Commercial International Bank (CIB), announced that retail banking  funds have  increased by 4.1 billion Egyptian pounds between January and September 2018 to record 23 billion pounds.

However, the retail banking  funds have   registered 19 billion Egyptian pounds by the end of 2017.

The personal loans portfolio has captured 74 percent of the total personal portfolio to record 17.2 billion Egyptian pounds in comparison to 13.9 billion pounds by the end of 2017.

In addition,  the bank’s credit cards portfolio has reached 3.344 billion pounds by the  end of Q3 2018, versus 2.8 billion pounds by the end of 2017 according to a bank report.

On the other hand, the debited current accounts have posted 1.719 billion pounds by the end of September 2018 compared to 1.780 billion pounds by the end of 2017.

The bank’s  real estate loans rose  to 810 million pounds by the end of September 2018, compared to 416 million pounds by the end of 2017.

Moreover, CIB acquires the the retail portfolio and cards businesses of Citibank Egypt, the deal included assets of $140 million.

Commercial International Bank S.A.E. is an Egyptian private-sector bank. The company corporate headquarters are located in Cairo, Egypt. The bank serves more than 500,000 clients and has more than 6,000 employees.