Egypt’s CIB Bank Q1 Net Profit Up 38% Year-On-Year

Egypt’s largest private sector bank, Commercial International Bank (CIB) (COMI) , on Wednesday reported a 38% rise in first quarter net profits compared to the same period last year.

It said its quarterly earnings were 1.11 billion Egyptian pounds ($145.31 million), up from 805 million in the same period last year. Revenues for the quarter rose 47% to 2.584 billion pounds.

CIB had in 2014 posted a 36% rise in net profit for the full year.

Source: Reuters