CIB reports a decline by 13.24% in its profits during 2020

The Commercial International Bank – Egypt (CIB) reported consolidated net profits of 10.23 billion Egyptian pounds  in 2020, down by 13.24 percent  year-on-year (YoY) from  11.8 billion pounds, excluding minority shareholders’ rights.

The lender’s net interest income rose to 25.17 billion pounds last year, compared to 21.57 billion pounds in 2019, according to its financial results.

The bank’s profit also declined on quarter basis to record 2.34 billion pounds during Q3 2020, compared to 3.18 billion pounds during the same period a year earlier.