Increase in CIB's Market Share in the Loans and Deposits Markets

Commercial International Bank-CIB was able to increase its market share in loans and deposits during the first quarter of 2023, driven by the significant growth achieved by the bank in its portfolio, continuing its strong performance in the Egyptian banking market.

The bank's market share in terms of the deposit market increased to 6.23% of total banking sector deposits by the end of the first quarter of 2023, compared to 6.18% by the end of 2022, adding 0.05% to its share in this market.

Due to the bank's success in increasing its market share in the household sector market to 5.32% of total retail loans in the banking sector by the end of March 2023, compared to 5.25% by the end of 2022.

In addition, CIB succeed to add 0.08% to its market share in the loan market, as its share increased to 5.53% of the total loans of the banking sector by the end of 2023, compared to 5.45% by the end of 2022.

CIB's market share in asset market reached 5.27% of the total assets of the banking sector by the end of March 2023, as bank's asset portfolio increased from EGP 633.64 bn by the end of 2022 to reach EGP 684.2 bn by the end of the first quarter of this year, with a growth rate of 7.98%, and an increase of EGP 50.55 bn.

Commercial International achieved a strong performance during current year, as the bank's net profit jumped by 43.52%, to record 6.08 bn during the first quarter of 2023, compared to 4.24 bn during the same period of 2022, an increase of 1.84 bn.

Net interest income jumped by 64.07% to reach EGP10.832 bn during the first quarter of 2023, compared to EGP6.602 bn during the same period of the previous year, representing an increase of EGP4.230 bn.

Net fees and commissions income increased to EGP1.212 bn during the first three months of 2023, compared to EGP676.841 mn during the same period of 2022, achieving a growth rate of 79.10% and an increase of EGP535.407 mn.

Customer deposit portfolio at CIB bank increased by 8.30% to reach EGP574.113 bn by the end of March 2023, compared to EGP530.124 bn by the end of 2022, with an increase of EGP43.988 bn.

Total loans to bank customers increased by 11.33% to reach EGP243.39 bn by the end of March 2023, compared to EGP218.63 bn by the end of 2022, with an increase of EGP24.76 bn.