Egypt’s Commercial International Bank first half net profit hit $247 mln

Egypt’s Commercial International Bank (CIB) reported on Thursday a net profit of 4.416 billion Egyptian pounds ($247.1 million) during the first six months of the year, up from 3.606 billion pounds last year.

CIB, Egypt’s largest listed bank, registered customers’ deposits of 266.870 billion pounds at the end of June, compared with 250.767 billion pounds at the end of 2017.

Total loans and facilities reached nearly 107 billion pounds, compared with 88.427 billion pounds at the end of last year.

The bank made a second quarter net profit of 2.399 billion pounds from 1.821 billion last year.