CIB's stock jumps by 44.65% in 9M-2023

CIB- Egypt achieved exceptional performance in the first 9 months of this year. Its stock price rose from EGP 41.48 per share at the end of 2022 to EGP60 per share at the end of September 2023, marking a 44.65% increase and an additional EGP18.52 per share.

The bank also leads the list of active stocks listed on the Egyptian Stock Exchange during the first 9 months of the current year, with a trading value of EGP 51.27 bn and a trading volume of EGP6.574 bn.

The bank has shown significant overall growth since the beginning of this year, with its assets growing by 25.4% to reach EGP794.7 bn by the end of June, compared to EGP 633.6 bn at the end of 2022, an increase of EGP 161.0 bn.

Moreover, the bank secured the first position on First Bank list of the largest banks listed in terms of asset value at the end of June.

Additionally, CIB also claimed the top spot on First Bank list for the fastest-growing banks in corporate loans during the first half of this year, with its portfolio increasing by about 20.06% to reach EGP198.5 bn by the end of June 2023, compared to EGP 165.3 bn at the end of 2022, with an increase of EGP33.2 bn.

Furthermore, the bank occupied the first position on First Bank list for banks listed in terms of the highest customer deposits at the end of June, with its portfolio jumping by about 23.82%. The bank managed to attract new deposits worth EGP126.3 bn, bringing the total to EGP 656.4 bn at the end of June 2023, compared to EGP530.1 bn at the end of 2022.

The bank was also the top earner among listed banks, with its net profits soaring by about 81.93% in the first 6 months of this year, reaching EGP14.14 bn during the first half of 2023, compared to EGP7.77 bn during the same period in 2022, an increase of EGP6.37 bn.

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