CIB achieves the fastest annual growth in net profits during the last decade, with 92.67% growth

Commercial International  Bank (CIB) has achieved exceptional performance over the past year, registering the fastest annual growth rate in net profits over the last decade, becoming the first bank in Egypt's private sector to surpass $1 billion.

According to the bank's separate financial statements, CIB's net profits jumped to 55.427 billion pounds in 2024, compared to 28.768 billion pounds in 2023, a growth of 92.67%, and a total increase of 26.659 billion pounds.

This excellence is due to its well-established strategy of providing innovative financial solutions that meet the needs of both individual and corporate clients, which has contributed to attracting a broad base of new customers and enhancing its position as the highest profitable private commercial bank in Egypt over more than four decades.

In 2023, the Bank grew by 78.35% in net earnings, 20.19% and 30.30% in 2022 and 2021.

As for its performance in 2020, it recorded a slight decline in its net profit of 12.74% due to the impact of the coronavirus pandemic, while it grew by 23.52%, 26.56% and 26.88% during 2019, 2018 and 2017 respectively.

In terms of CIB's net profits in 2016, the growth rate was 28.22%, while it grew by 27.23% 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 to strengthen its position in the banking market.

Its portfolio of assets rose by 45.26% over the past year, reaching 1.209 trillion pounds by the end of 2024, compared with 832.527 billion pounds by the end of 2023, representing an increase of 376.791 billion pounds.

The customer deposit portfolio rose by 43.33% in 2024, registering 967.895 billion pounds by the end of last year, compared with 675.31 billion pounds by the end of 2023, an increase of 292.585 billion pounds.

The bank's total loans to customers jumped by 124.471 billion pounds last year, reaching 389.574 billion pounds by the end of 2024, compared to 265.103 billion pounds by the end of 2023, with a growth rate of 46.95%.