CIB records fastest quarterly growth in its asset portfolio over the last decade with a growth rate of 33.89%

1/29/2025 5:17:05 PM

CIB has significantly strengthened its financial position in the first 9 months of last year as evidenced by the rise in the volume of its portfolio of assets to EGP 1.1 tn by the end of September 2024, compared to 832.5 billion pounds by the end of 2023, with a growth of 33.89%, A total increase of Pound282.1 billion, marking its fastest quarterly growth in the last decade, and its largest ever increase in value.

This comes as a result of the Bank's innovative strategies, which focused on enhancing trust with customers, providing sophisticated banking solutions that meet the changing needs of the market, and thanks to the efforts of Hisham Ezz Al Arab, the Bank's Chief Executive Officer and his team.

In terms of growth rates in the past years, during the first 9 months of 2023, the Bank achieved about 27.63% growth in its portfolio of assets, while growth of about 18 .87% and 15.30% during the same period in 2022 and 2021.

As for its performance during the first 9 months of 2020, its portfolio of assets rose by 6.85%, while it grew by 9.25%, 11.02% and 7.20% during the same period of 2019, 2018, 2017, respectively.

In terms of the growth of the "International Trading" asset portfolio during the first 9 months of 2016, its growth rate was 13.50%, while it rose by 22.60% in the same period in 2015.

The Bank's financial performance over the past 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.

By focusing on providing innovative services and integrated solutions that meet clients' needs, the Bank seeks to establish its presence as a leading financial institution capable of adapting to ongoing economic changes, enhancing its competitiveness in a dynamic market environment and underscoring its aspirations for further future successes.

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