CIB leads banking sector gains in EGX Sunday trading

In a robust trading session this Sunday, the Commercial International Bank (CIB) led the EGX banking sector’s gains, closing at 88.6 pounds, a 6.81 per cent increase, with transactions reaching 476 million pounds, according to the Federation of the Egyptian Banks (FEB).

Al Baraka Bank Egypt followed, securing a 4.71 per cent rise to close at 16 pounds, and the Abu Dhabi Islamic Bank saw gains, closing at 56.99 pounds, a 1.79 per cent increase.

QNB Al Ahli and the Export Development Bank of Egypt (E Bank) stocks increased by 1.69 per cent and 0.56 per cent, respectively.

Conversely, Faisal Islamic Bank’s stock in Egyptian pounds topped the list of decliners, dropping by 2.77 per cent to close at 37.5 pounds. The bank’s stock in dollars also fell by 1.33 per cent, closing at 1.04 dollars.

The Suez Canal Bank, Housing and Development Bank, and Credit Agricole Bank experienced declines as well, completing the list of the top five decliners in the banking sector.

The trading day reflected a dynamic market with significant movements in both directions.