CIB grows by 17.78% On First bank’s Composite Growth Index during Q1-2023
Commercial International Bank recorded a composite growth rate of 17.78% in all its activities that included net profits, deposit portfolio, loan portfolio, and asset portfolio During Q1-2023, according to its latest separate financial results.
This rate was measured through a composite growth index developed by First Bank to measure the financial performance of banks with a single figure during Q1- 2023.
The bank was able to achieve positive results in all four sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio), led by net profit that recorded a growth rate of 43.52% to record EGP 6.084 bn during Q1 2023, compared to EGP 4.239 bn at the same period 2022 with an increase of EGP 1.844 bn.
Furthermore, The bank's Total loans and facilities to customers came in second place achieving a growth rate of 11.33% it increased to EGP 243.394 bn by the end of March 2023, compared to EGP 218.633 bn by the end of 2022،with an increase of EGP 24.761 bn
The bank's deposit portfolio increased by 8.30% it rose to EGP 574.113 bn by the end of March 2023, compared to EGP 530.124 bn by the end of 2022، with an increase of EGP 43.988 bn
In addition, the bank's Total asset portfolio jumped to EGP 684.195 bn by the end of March 2023, compared to EGP 633.643 bn by the end of 2022, achieving a growth rate of 7.98%, and an increase of EGP 50.525 bn.
