CIB grows by 36.55% on First Bank Composite Growth Index during H1-2023

The separate financial statements of Commercial International Bank - Egypt (CIB), which ended on June 30, 2023, revealed that the bank recorded a compound growth rate of 36.55% during the first half of Current year.

This rate was measured through a composite index developed by First Bank to measure the financial performance of banks with a single figure, in all branches of activity that include net profits, deposit, loan, and asset portfolios, during the period from January to June 2023.

The bank was able to achieve positive results in all 4 sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio), led by net profit that recorded a growth rate of 81.93% to record EGP 14.144 bn during H1- 2023, compared to EGP 7.774 bn at the same period 2022, with an increase of EGP 6.370 bn.

Furthermore, the bank's Total asset came in second place with a growth rate of 25.41% during the first half of current year, bringing the total portfolio from EGP 633.6 bn at the end of December 2022 to reach EGP 794.7 bn at the end of June 2023, achieving an increase of EGP 161 bn.

The bank's Total customer loans achieved a growth rate of 15.02% to reach EGP 251.5 bn by the end of June 2023, compared to EGP 218.6 bn by the end of 2022، with an increase of EGP 32.8 bn.

In addition, Total customer deposit portfolio Jumped to record EGP 656.4 bn by the end of June 2023, compared to EGP 530.1 bn by the end of 2022, achieving a growth rate of 23.82%, and an increase of EGP 126.3 bn.