Foreign currencies account for 31.18% of CIB’s total customer loans by June-2023 end
First Bank
Commercial International Bank - Egypt, achieved good performance during the current year, reflected in the increase of its total customer loans portfolio by EGP 32.85 bn, reaching EGP251.48 bn by the end of June 2023, compared to EGP 218.63 bn by the end of 2022, with a growth rate of 15.02% on a semi-annual basis.
This led it to top First Bank index for credit competitiveness among listed banks during the first half of the current year. First Bank highlights the growth achieved by the total portfolio of CIB in various currencies by the end of June 2023.
Total customer loans of in the local currency increased from EGP 154.60 bn by the end of 2022 to EGP173.08 bn by the end of the first half of 2023, with a growth rate of 11.95% and an increase of EGP18.48 bn.
Total customer loans in local currency accounted for the largest share of the bank's total customer deposits, with a relative weight of about 68.82% by the end of the first half of 2023.
As for the total customer loans of the bank in foreign currencies, it increased to EGP78.4 bn by the end of June 2023, compared to EGP64.03 bn by the end of 2022, with a growth rate of 22.44% and an increase of EGP14.37 bn.
Customer loans in foreign currencies constituted about 31.18% of its total customer loans portfolio by the end of the first 6 months of 2023.
The bank's loans in US dollars were the largest in size among the total customer loans of the bank in foreign currencies, jumping by 21.24% to reach the equivalent of EGP71.85 bn by the end of the first half of 2023, compared to the equivalent of EGP59.27 bn by the end of 2022, with an increase of EGP 12.59 bn.
Meanwhile, customer loans in Euro showed the fastest growth during the first half of 2023, rising by about 36.69% to reach the equivalent of EGP6.29 bn by the end of last June, compared to the equivalent of EGP4.60 bn by the end of 2022, with an increase of EGP1.69 bn.
CIB loans in pound sterling amounted to the equivalent of EGP19.52 mn by the end of the first half of 2023, while customer loans in other currencies amounted to the equivalent of EGP238.49 mn by the end of the same period.
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