personal loans account for 70.8% of CIB retail loans by 2023 End

The financial statements of Commercial International Bank for the period ending on December 31, 2023, revealed that retail loans rose to EGP 60.07 bn at the end of December 2023, compared to EGP 53.29 bn at the end of December 2022, representing a growth rate of 13% and an increase of EGP 6.78 bn.

The bank's personal loans increased by 6% during the last year. To record EGP 42.51 bn at the end of December 2023, compared to EGP 41.14 bn at the end of December 2022, accounting for70.8% of total retail loans by end of 2023.

Moreover, total credit card portfolio at the bank increased by 35% reaching EGP 10.30 bn at the end of 2023, compared to EGP 7.64 bn at the end of December 2022.

Current debit accounts at the bank increased by 38% with an increase of EGP 799 mn by 2023 End. It moved from EGP 2.12 mn at the end of December 2022 to EGP 2.92 bn at the end of December 2023.

In general, net profits of commercial international Bank rose by 78.35% during the last year to record EGP 28.768 bn during 2023, compared to EGP 16.13 bn during 2022, achieving an increase of EGP 12.638 bn.

The bank's total asset portfolio jumped from EGP 633.6 bn at the end of 2022 to EGP832.5 bn at the end of 2023, with growth rate of 31.4% over the past year, an increase of EGP198.9 bn.

In addition, the bank’s total deposits grew by a rate of 27.4%, and an increase of EGP 145.2 bn by 2023 End, reaching EGP 675.3 bn by the end of December 2023, compared to EGP 530.1 bn by the end of 2022.

Total loans increased by 21.3%, amounting to EGP 265.1 bn by end of 2023 compared to EGP 218.6 bn by the end of December 2022. an increase of EGP 46.47 bn.