CIB's strategy achieves a record success in the loan sector during 2024

In a year of economic transformations and fundamental challenges, CIB has proven to be a leader in the banking sector. A landmark success story in the loans market, thanks to its smart strategies and outstanding performance, The bank achieved a record milestone in the loan sector in 2024, recording the fastest quarterly growth in the last decade. This reflects the strength of its future direction and vision, supported by the efforts of Hisham Ezz Al Arab, the Bank's CEO and his team

A monitoring conducted by First Bank revealed that CIB's total customer loans  rose to 349.808 billion pounds by the end of September 2024, compared to 265.103 billion pounds by the end of September 2023, a growth of 31.95% and an increase of 84.705 billion pounds

Thanks to this record growth, the Bank was able to lead the Bank's First Bank Credit Competitiveness Index in the first 9 months of 2024, while the biggest advantage was to take the lead of private banks on the loan portfolio level last June. Superior to QNB, which topped the sector's loans market until the end of March 2024, highlighting the success of its expansion strategy in the credit sector

This achievement was not a coincidence, but the culmination of a career of sustained growth and excellence in providing financing to individuals and corporates alike, as evidenced by its portfolio of corporate loans rising to 274.9 billion pounds by the end of September 2024, compared to 205.03 billion pounds by the end of 2023, with growth of 34.09% and an increase of 69.89 billion pounds

Its outstanding performance in the retail banking sector also played a role, with his portfolio of individual loans rising by 24.67% during the first 9 months of 2024, reaching 74.88 billion pounds by the end of September, compared to 60.1 billion pounds by the end of 2023, an increase of 14.8 billion pounds.

Although CIB achieved strong growth in its finance portfolio, it was able to maintain a good stumbling rate of 4.4% by the end of September 2024

In terms of growth rates in total customer loans over the past years, the Bank recorded growth of about 16.41% in the first 9 months of 2023, while rising by about 21.39% in the same period of 2022

CIB grew by 15.87% during the first 9 months of 2021 in total customer loans, while it recorded growth of 2.26% and 2.49% during the same period in 2020 and 2019 respectively.

It recorded growth in its portfolio of total customer loans of about 14.81% during the first 9 months of 2018, and about 3.76% during the same period of 2017

As for the growth in the volume of its loans to customers during the first nine months of 2016, it rose by 8.32%, while it increased by 17.63% during the same period in 2015

The Bank's financial performance during the current year reflects a strong trend towards inclusive and sustainable growth, with notable rises in several key financial indicators, reflecting its ambitious strategy and future vision to strengthen its position in the banking market.

CIB's net profit jumped by 95.8%, registering 42.6 billion pounds in the first 9 months of 2024, compared to 21.7 billion pounds in the same period from 2023, an increase of 20.8 billion pounds

From early January to the end of September, the share of the main share in the Bank's profits jumped to 12.42 pounds per share, compared to 6.41 pounds per share during the same period from 2023, a growth of 93.76% and an increase of 6.01 pounds per share

At the bank's financial position, its portfolio rose to 1.1 trillion pounds by the end of September 2024, compared to 832.5 billion pounds by the end of December 2023, with a growth of 33.89%.

Customer deposit portfolio jumped by 32.78% in the first 9 months of this year, reaching 896.692 billion pounds by the end of September 2024, compared to 675.31 billion pounds by the end of December 2023, with an increase of 221.382 billion pounds

CIB's total investments rose by 36.67%, reaching 369.2 billion pounds by the end of September 2024, compared to 270.1 billion pounds by the end of 2023, with an increase beyond the 99 billion pounds mark.