CIB posts EGP4.99 bln profits in 6 months, dropping 6.6 %

The Commercial International Bank’s (CIB) consolidated profits dropped 6.6 percent during the first half of 2020, recording 4.99 billion Egyptian pounds, compared  5.35 billion pounds, including minority rights, in the same period of 2019.

The bank clarified that the net income from the revenue increased to 12.47 billion pounds, compared to 10 billion pounds  in the first half of last year.

As per standalone results, the bank’s profits reached 5.001 billion pounds, compared to 5.35 billion pounds in the first half of 2019.

The bank’s net income from revenue increased during 2019 reached 21.57 billion pounds, compared to18.14 billion pounds in the previous year.