CIB Sees A Strong Performance After Increasing Its Profits Six fold In A Decade

 

Commercial International Bank was able to achieve a significant jump in its net profits over the past 10 years, as it jumped by 632.30%, to record EGP 16.13 bn in 2022, compared to EGP 2.20 bn in 2012, an increase of EGP 13.93 bn.

2014 was fastest growing year in net profits at CIB, as it jumped by 39.48%, to record EGP 3.65 bn, compared to EGP2.62 bn during 2013, an increase of EGP 1.03 bn

While 2021 was the largest in terms of increase value,   the bank’s net profit jumped by EGP3.12 bn, to record EGP13.42 bn during the year, compared to EGP 10.3 bn during 2020, achieving a growth rate of 30.30% annually.

Moreover, CIB's net profits jumped to record EGP 16.130 bn in 2022, compared to EGP 13.420 bn in 2021, an increase of EGP 2.710 bn.

The bank’s asset portfolio jumped by 27.58%, to reach EGP633.64 bn at the end of last year, compared to EGP496.65 bn at the end of 2021, an increase of EGP136.99 bn.

Deposits portfolio increased to reach EGP 530.12 bn by the end of 2022, compared to EGP 406.10 bn by the end of 2021, an increase of EGP124.02 bn.

Due to an increase in the bank’s corporates deposits portfolio by 45.79%, to reach EGP262.223 bn by the end of 2022, compared to EGP179.860 bn by the end of 2021, an increase of EGP 82.363 bn.

Also Individual deposits portfolio increased from EGP226.240 bn by the end of 2021 to EGP267.900 bn by the end of 2022, achieving a growth rate of 18.41%, and an increase of EGP41.660 bn.

Total loans portfolio to jumped to EGP218.63 bn by the end of 2022, compared to EGP163.9 bn by the end of 2021, achieving a growth rate of 34.06%, and an increase of EGP 55.55 bn.

The bank’s individual loans portfolio increased from EGP41.063 bn at the end of 2021 to EGP 53.287 bn at the end of 2022, achieving a growth rate of 29.77%, and an increase of EGP12.224 bn.

Corporates loan portfolio rose to EGP165.345 bn by the end of 2022, compared to EGP 122.024 bn by the end of 2021, achieving a growth rate of 35.50%, and an increase of EGP43.321 bn.

Non-performing loan ratio of the bank’s total loans declined to 4.81% at the end of 2022, compared to 5.13% at the end of 2021. Due to its success in decreasing NPLs ratio of Corporates .