How CIB’s customer loans distributed among different currencies?

The Separate financial statements of the Commercial International Bank-Egypt showed significant growth in the total customer loans provided by the Bank, with the portfolio jumping by 16.4% in the first 9M of this year, reaching EGP 254.5 bn by the end of Q3- 2023, compared to EGP 218.6 bn by the end of 2022, with an increase of EGP 35.9 bn.

This outstanding performance prompted, CIB topped listed banks on First Bank credit competitiveness, while it took the third position on FirstBank list of the fastest-growing listed banks on total customer loans during the first 9M of this year.

In the light of this remarkable performance, First Bank reports the growth achieved in the total customer loans of CIB Bank in different currencies during the first 9M of 2023.

Local Currency

The local currency accounted for the lion's share of the bank's total customer funding, with a share of 69.8% by the end of September 2023.

Total loans in Egyptian pounds rose to EGP 177.7 bn by the end of September 2023, compared to EGP 154.6 bn by the end of 2022, with a growth of 15% and an increase of EGP 23.1 bn.

Foreign currencies

The Bank's total customer funding in foreign currencies jumped to the equivalent of EGP 76.8 bn by Q3- 2023, compared with EGP 64 bn by the end of 2022, with a growth of 20% and an increase of EGP 12.8 bn.

CIB loans in Euro were the fastest growing in the first 9M- 2023 since they jumped to 23.3%, reaching the equivalent of EGP 5.7 bn by the end of September, compared with EGP 4.6 bn by the end of 2022, with a corresponding increase of EGP 1.1 bn.

While the Bank's customer loans in US dollar were the largest on the foreign currency level, it posted the equivalent of EGP 71 bn by the end of September 2023, compared with EGP 59.3 bn by the end of 2022, with a growth of 19.8%, and an increase corresponding to EGP 11.7 bn.

In terms of CIB funding in pound Sterling, the equivalent of EGP 5.3 mn was recorded by the end of Q3- 2023, while its loans in other currencies amounted to EGP 154.9 mn by the end of the same period.