CIB top listed bank on First Bank index for credit competitiveness
First Bank
Commercial International Bank – Egypt, managed to top First Bank index for credit competitiveness among listed banks during the first 9 months of the current year, after its total portfolio of loans and facilities to customers increased by EGP35.88 bn, reaching EGP254.5 bn by the end of September 2023, compared to EGP218.6 bn by the end of December 2022
The large increase in the total financing of Commercial International Bank to customers is due to the increase in the total portfolio of corporate loans in the bank to EGP198 bn by the end of September 2023, compared to EGP165.35 bn by the end of 2022, at a growth rate of 19.75%, and an increase of EGP32.65 bn.
The bank’s loans to retail banking also played an important role in increasing the total loans of the Commercial International Bank to customers, as its retail financing jumped by about 6.07%, to record EGP56.52 bn by the end of the third quarter of 2023, compared to EGP53.29 bn by the end of 2022, an increase of EGP3.23 bn
Commercial International Bank achieved a strong performance during the current year, as the bank’s net profits increased by about 78.06%, to record EGP21.73 bn during the first 9 months of 2023, compared to EGP12.21 bn during the same period of 2022, an increase of EGP9.53 bn.
Net fees and commissions income increased by about 82.01%, to record EGP3.95 bn during the first 9 months of 2023, compared to EGP2.17 bn during the same period of 2022, an increase of EGP1.78 bn.
Net interest income increased by about 73.13%, to reach EGP37.59bn during the first 9 months of 2023, compared to EGP21.71 bn during the same period of 2022, an increase of EGP15.88 bn.
The bank’s asset portfolio jumped by about 27.63%, to reach EGP808.74 bn by the end of September 2023, compared to EGP633.64 bn by the end of 2022, an increase of EGP175.1 bn.
The bank’s customer deposits portfolio increased by about 25.61%, to record EGP665.89 bn by the end of September 2023, compared to EGP530.12 bn by the end of 2022, an increase of EGP135.77 bn.
To view the full list, Click more.
