CIB continues to maintain its lead among listed Banks on First Bank Index for Depositors' Confidence in H1-2023

First Bank index for depositors' confidence in listed banks revealed that Commercial International Bank-Egypt topped the list after successfully increasing its customers' deposit portfolio by EGP 126.3 bn during the first Half of the current year, reaching EGP 656.42 bn by the end of June 2023, compared to EGP530.125 bn at the end of 2022.

This is attributed to an increase in the Retail deposit portfolio by 31.01%, reaching EGP 351.01 bn by the end of June 2023, compared to EGP 267.90 bn at the end of 2022, with an increase of EGP 83.11 bn.

In addition, corporate deposits also played a role in increasing total deposit portfolio, rising from EGP 262.223 bn at the end of 2022 to EGP 305.41 bn at the end of June 2023, achieving a growth rate of 16.47% on a semi-annual basis and an increase of EGP 43.19 bn.

Overall, Commercial International Bank-CIB achieved a strong performance during the first Half of the current year, as its net profit increased by 81.95%, reaching EGP 14.14 bn during the first Half of 2023, compared to EGP7.77bn during the same period in 2022, with an increase of EGP 6.37bn.

CIB's pre-taxes profit jumped to reach EGP 23.79 bn in the first half of 2023 compared to EGP 13.7 bn During the same period of 2022, achieving a growth rate of 73.71% and an increase of EGP 10.1 bn.

It also enhanced its financing for clients, as its net customer loans jumped from EGP 218.63 bn at the end of 2022 to reach EGP 251.48 bn at the end of June 2023, achieving a growth rate of 15.02% and an increase of EGP 3285 bn.

The bank's total assets increased from EGP 633.64 bn at the end of 2022 to EGP 794.68 bn at the end of June 2023, achieving a growth rate of 25.41% and an increase of EGP 161.03 bn.