Egypt’s CIB bank 9-month pretax profit hits EGP 30.7 bln

Commercial International Bank (CIB), one of Egypt’s largest private banks, posted profit before tax of 30.681 billion Egyptian pounds ($1 billion) in the first nine months of the year.

Earlier, the bank registered profit before tax worth 17.787 billion pounds at the end of September 2022.

Meanwhile, net profit also grew to 21.7 billion pounds at the end of September 2023, from 12.205 billion pounds at the end of September 2022, the bank’s standalone financial results revealed.

Customers’ deposits rose to 665.894 billion pounds at the end of September 2023, from 530.124 billion pounds at the end of December 2022.

The bank’s total assets recorded 808.742 billion pounds at the end of September 2023, around 27.6 percent up from 633.64 billion pounds at the end of December 2022, the standalone results showed.