CIB tops FirstBank Index of Depositors' confidence in Listed Banks during 2023
First Bank
Commercial International Bank - Egypt tops the First Bank Depositor Confidence Index in listed banks in 2023, after its deposits portfolio jumped by EGP 145.2 bn, reaching EGP 675.3 bn by the end of December, compared to EGP 530.1 bn by the end of 2022, with a growth of 27.39% on an annual basis.
This is due to the significant increase in the volume of retail deposits, with its portfolio jumping by 37.88% over the past year, reaching EGP 369.4 bn by the end of December 2023, compared to EGP 267.9 bn by the end of 2022, with an increase of EGP 101.5 bn.
The bank's corporate deposit portfolio jumped to EGP 305.9 bn by the end of December 2023, compared to EGP 262.2 bn by the end of 2022, with a growth of 16.67% and an increase of EGP 43.7 bn.
The Bank works to attract the largest number of customers within the banking sector, and so on; The Bank is keen to keep up with the latest developments in the field of digital banking and provide them to its customers, in implementation of its digital strategy and to enhance its leading role in supporting financial inclusion and digital transformation.
CIB's main indicators recorded a strong performance over the past year, with the bank's net profits jumping by 78.4%, reaching EGP 28.8 bn in 2023, compared to EGP 16.1 bn in 2022, with an increase of EGP 12.6 bn.
The Bank's assets portfolio rose at a 31.4% rate over the past year, registering EGP 832.5 bn by the end of December 2023, compared to EGP 633.6 bn by the end of 2022, with an increase of EGP 198.9 bn.
Total customer loans jumped by EGP 46.5 bn, registering EGP 265.1 bn by the end of last year, compared to EGP 218.6 bn by the end of 2022, with a growth of 21.26% on an annual basis.
The share in the Bank's profit rose in 2023 to EGP 8.59 per share, compared to EGP 4.8 per share in 2022, with a growth of 78.96%, and an increase of EGP 3.79 per share
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