CIB Egypt’s sees a slow-down in growth at Q4-22

Commercial International Bank-CIB Egypt witnessed a slowdown in growth during the forth quarter of 2022 compared to the third quarter of the same year,  recorded a growth rate of 8.9% during the forth quarter of 2022, compared to a compound growth of 12.44% during the third quarter of this year.

According to the composite growth index developed by First Bank to measure the financial performance of banks with a single number, which shows the bank's compound growth in 4 indicators, net profits, assets, loans, and deposits.

Despite the decline in growth, the bank achieved positive results in all sub-indicators that make up the composite First Bank index during the fourth quarter of last year; the bank achieved a growth in its net profits at a rate of 11.29% during the fourth quarter of 2022.

It also achieved a growth in total loans portfolio at a rate of 10.44% during the fourth quarter of 2022, total assets and deposits portfolios increased by rates of 7.33% and 6.54%, respectively, during the same period last year.

As for the third quarter of last year, the bank achieved a growth in total deposits portfolio at a rate of 16.38% during the third quarter of 2022.

While the bank's net profits increased by 16.10% during the third quarter of 2022, while  total assets and loans portfolios increased by 13.18% and 4.11%, respectively, during the same period last year.