CIB continues to lead listed banks in Egypt

According to First Bank list of the largest listed banks by customer deposits at the end of the third quarter of 2023, Commercial International Bank maintained its top position.

The bank’s customer deposit portfolio increased by approximately 25.61%, reaching EGP 665.89 bn by the end of September 2023, compared to EGP 530.12 bn at the end of 2022, with an increase of EGP 135.77 bn.

This growth is attributed to the increase in corporate deposits, reaching EGP 306.138 bn by the end of the third quarter of the current year, compared to EGP 262.223 bn at the end of 2022, with a growth rate of 16.75% and an increase of EGP 43.915 bn.

On the retail deposit front, there was a significant jump of 34.29%, reaching EGP 359.76 bn by the end of September 2023, compared to EGP 267.90 bn at the end of 2022, an increase of EGP 91.86 bn.

Commercial International Bank achieved strong performance during the current year, with its asset portfolio jumping by about 27.63% to EGP 808.74 bn by the end of September 2023, compared to EGP 633.64 bn at the end of 2022, with an increase of EGP 175.1 bn.

Total loans to bank customers increased by approximately 16.41%, reaching EGP 254.52 bn by the end of September 2023, compared to EGP 218.63 bn at the end of 2022, with an increase of EGP 35.88 bn.

The bank’s net profits surged by about 78.06%, reaching EGP 21.73 bn during the first 9 months of 2023, compared to EGP 12.21 bn during the same period in 2022, with an increase of EGP 9.53 bn.

Net income from returns increased by about 73.13%, reaching EGP 37.59 bn during the first 9 months of 2023, compared to EGP 21.71 bn during the same period in 2022, with an increase of EGP 15.88 bn.

Net fees and commissions income also rose by about 82.01%, reaching EGP 3.95 bn during the first 9 months of 2023, compared to EGP 2.17 bn during the same period in 2022, with an increase of EGP 1.78 bn.