CIB tops the fastest-growing listed Banks on First Bank index of depositor confidence in 2024

CIB has achieved remarkable growth in its portfolio of customer deposits over the past year, jumping by 292.585 billion pounds, reaching 967.895 billion pounds by the end of 2024, compared to 675.310 billion pounds by the end of 2023, with a growth rate of 43.33%.

This performance led the bank to top fastest-growing listed Banks on First Bank index of depositor confidence during 2024.

Due to its significantly higher volume of deposits, its portfolio jumped by 45.47% over the past year, registering 537.325 billion pounds by the end of 2024, compared with 369.374 by the end of 2023.

The rise in the corporate deposit portfolio also played an important role, rising to 430.57 billion pounds by the end of 2024, compared to 305.936 billion pounds by the end of 2023, with a growth rate of 40.74%, and a total increase of 124.635 billion pounds.

Overall, the Bank achieved a strong performance over the past year, jumping its net profit 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.

Net interest income rose by 72.17% over the past year, reaching 90.816 billion pounds in 2024, compared with 52.746 billion pounds in 2023, an increase of 38.069 billion pounds.

Net fees and commissions income rose to Pound7.065 billion in 2024, compared to Pound5.433 billion in 2023, a growth rate of 30.02%, and a total increase of Pound1.631 billion.

At the bank's financial position, its portfolio of assets rose by 45.26% over the past year, reaching 1.209 trillion pounds by the end of 2024, compared to 832.527 billion pounds by the end of 2023, an increase of 376.791 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%.

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