CIB achieves remarkable growth in profitability indicators during 2024

Commercial International Bank «CIB» achieved remarkable progress in its profitability indicators during the year 2024, driven by achieving strong profits, the largest among listed banks and private sector banks.

«CIB» was able to jump the rate of return on average equity to 45.81% during 2024, compared to 36.41% during 2023, thus occupying fourth place on «First Bank»’s list of the most efficient banks listed in achieving a return on shareholders’ funds «Rate of return on average equity» during 2024.

Its rate of return on average assets jumped to 5.43% in 2024, compared to 3.92% in 2023, also occupying fourth place on «First Bank»’s list of listed banks that are most efficient in investing their assets (rate of return on average assets) during 2024.

The increase witnessed in both the return on average assets and the return on average owners’ equity is due to «CIB»’s success in achieving a strong jump in its net profits during 2024.

Its net profits rose to 55.427 billion pounds in 2024, compared to 28.768 billion pounds in 2023, with a growth rate of 92.67%, and a total increase of 26.659 billion pounds.

This enhanced the profitability of its main share, as the share per share in the bank’s profits during 2024 jumped to 16.39 pounds per share, compared to 8.5 pounds during 2023, with a growth rate of 92.82%, and a total increase of 7.89 pounds per share.

In general, Commercial International Bank «CIB» Egypt achieved strong performance over the past year, as its portfolio of assets increased by about 45.26%, reaching 1.209 trillion pounds by the end of 2024, compared to 832.527 billion pounds by the end of 2023, representing an increase of 376.791 billion pounds.

The bank's total loans to customers jumped by 124.471 billion pounds over the past 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%.

Its portfolio of customer deposits increased over the past year 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%.