CIB Egypt enhance its tendency towards financial investments

The Commercial International Bank-CIB, the leading private sector bank in Egypt, has succeeded to become a pioneering financial institution in the Egyptian banking sector since it was established.

First Bank monitors the bank’s investment tendencies during the past year and how they were greatly reflected in its main financial indicators and profitability.

Upon tracking the bank’s investment trends; it was found that it has not made noticeable changes during 2022. Thus, it reduced its tendency towards directing its total investments solely into financial investments. CIB’s financial investments to total assets ratio has declined by 37.59% at the end of 2022, compared to 42.88% at the end of 2021.

However, the bank’s orientations towards granting loans as it has witnessed a relative increase which was reflected the the increase in the ratio of loans to total assets from 30.40% at the end of 2022 compared to 29.15% by the end of 2021

However, the bank’s balances with banks grew to acquire 21.11% ofits total assets by the end of 2022 compared to 16.11% by the end 2021.

However, the bank’s assets portfolio grew by 27.58%, to reach 633.64 billion pounds by the end of 2022, compared to496.65 billion pounds by the end of 2021, an increase of 136.99 billion pounds.

In addition, its deposits portfolio increased by30.54%, to reach 530.12 billion pounds by the end of 2022, compared to 406.10 billion pounds by the end of 2021, an increase of 124.02 billion pounds

The bank’s total loans jumped from 218.63 billion pounds at the end of 2022 to 163.9 billion pounds at the end of 2021, achieving a growth rate of 34.06%, and an increase of 55.55 billion pounds.

CIB was able to achieve a strong performance during the past year in terms of its main indicators; its net profit increased by 20.19%, to reach 16.130 billion pounds in 2022, compared to 13.420 billion pounds in 2021; an increase of 2.710 billion pounds.