CIB’s growth accelerates to 40.46% during Q2-2023
First Bank
Commercial International Bank’s growth accelerates during the second quarter of 2023, recording a compound growth rate of 40.46%, compared to 17.78% during First quarter of Current year.
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 Q2-2023.
The bank was able to achieve positive results in all 4 sub-indicators (net profits, deposit portfolio, loan portfolio, and asset portfolio) which formulated First Bank composite growth index, led by net profit, recorded a growth rate of 128.02% during Q2-2023.
The bank's asset portfolio came in second place with a growth of 16.15% during the second quarter of this year, it also achieved an increase in both deposit and loans portfolios with growth rates of 14.34% and 3.32%, respectively, during the period from April to June 2023.
The bank’s net profits also increased on First Bank composite growth index during Q1-2023 to achieve a growth rate of 43.52%.
The bank’s Total loan portfolio increased by 11.33% during Q1-2023, asset as well as deposit portfolios increased by 7.98% and 8.30%, respectively, at the same period.
it should be noted that all figures and growth rates mentioned above, are according to separate financial statements published on the bank’s official website.
Indicators of commercial international bank
| # | Indicators | Value at Q2-2023 | Growth rate % | Value at Q1-2023 | Growth rate % |
|---|---|---|---|---|---|
| 1 | Net profits | 8.059 BIllion pounds | 128.02 % | 6.084 BIllion pounds | 43.52 % |
| 2 | total assets | 794.678 BIllion pounds | 16.15 % | 684.196 BIllion pounds | 7.98 % |
| 3 | total deposits | 656.423 BIllion pounds | 14.34 % | 574.114 BIllion pounds | 8.3 % |
| 4 | Total customer loans | 251.479 BIllion pounds | 3.32 % | 243.394 BIllion pounds | 11.33 % |
| 5 | Composite growth index | 40.46 % | 17.78 % |
