CIB tops listed banks on FirstBank index of depositors' confidence

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 135.77 bn during the first 9 months of the current year, reaching EGP 665.89 bn by the end of September 2023, compared to EGP 530.12 bn at the end of 2022.

This is attributed to an increase in the corporate deposit portfolio by 16.75%, reaching EGP 306.14 bn by the end of September 2023, compared to EGP 262.22 bn at the end of 2022, with an increase of EGP 43.92 bn.

In addition, retail deposits also played a role in increasing total deposit portfolio, rising from EGP 267.90 bn at the end of 2022 to EGP 359.76 bn at the end of September 2023, achieving a growth rate of 34.29% and an increase of EGP 91.86 bn.

Overall, Commercial International Bank-CIB achieved a strong performance during the first 9 months of the current year, as its net profit increased by 78.06%, reaching EGP 21.73 bn during 9M- 2023, compared to EGP12.21bn during the same period in 2022, with an increase of EGP 9.53bn.

The bank's total assets increased from EGP 633.64 bn at the end of 2022 to EGP 808.74 bn at the end of September 2023, achieving a growth rate of 27.63% and an increase of EGP 175.1 bn.