Greater Cairo Tops CIB's Geographical Sectors in Net Profits for H1-2023

The Commercial International Bank (CIB) has achieved record profits during the current year, with its net profits jumping from EGP7.77 bn in the first half of 2023 to EGP14.14 bn during the same period in 2023, representing a growth rate of 81.93% and an increase of EGP6.37 bn.

Analyzing the geographic sectors of the bank's net profits, we found that Greater Cairo was the most successful in generating net profits during the current year, reaching EGP11.58 bn in the first half of 2023, compared to EGP7.01 bn during the same period in 2022, showing a growth rate of 65.31% and an increase of EGP4.58 bn.

Greater Cairo accounted for the vast majority of CIB's net profits, making up 81.90% during the first half of 2023.

Net profits from Alexandria, Delta, and Sinai, they increased by approximately 214.96%, reaching EGP2.21 bn during the first half of 2023, compared to EGP701.60 mn during the same period in 2022, with an increase of EGP1.51 bn.

Alexandria region accounted for 15.62% of CIB's net profits during the first half of 2023.

Meanwhile, net profits from the Upper Egypt regions saw the fastest growth, jumping by 435.22% to reach EGP350.35 mn during the first half of 2023, compared to EGP65.46 mn during the same period in 2022, with an increase of EGP284.89 mn.

Upper Egypt regions contributed to a very small percentage of the Commercial International Bank's net profits, accounting for only 2.48% during the first half of 2023.

It is worth noting that CIB owns a wide network of branches, totaling 211 branches and banking units as of the end of June of the previous year.