CIB achieves strong performance in its financial Efficiency indicators during 2023
First Bank
Commercial international Bank has achieved progress in its financial efficiency indicators during the last year, The following analysis highlights bank's development in financial efficiency indicators during 2023.
The separate financial statements of Commercial international Bank-CIB, ending on December 31 2023, revealed that the bank achieved an increase in return on average equity (ROE) of 36.41% during 2023, compared to 23.61% during 2022.
The return on average assets (ROA) of the bank reaching 3.92% during the last year, compared to 2.85% during 2022.
The main reason for the increase in ROE and ROA is the bank's net profits increase with a growth rate of 78.35%, reaching EGP 28.77bn during 2023, compared to EGP 16.13bn during the same period in 2022, an increase of EGP 12.64bn.
In terms of earnings per share, the bank recorded a growth rate of 78.90% during 2023, with the bank's share of net profits reaching about EGP 8.48per share during the 2023, compared to EGP 4.74 during 2022.
It is worth mentioning that the bank achieved a growth of 33.3% in its Equity portfolio during 2023, as it increased from EGP 67.7bn at the end of December 2022 to EGP 90.3bn at the end of December 2023 an increase of EGP 22.6bn.
The bank's asset portfolio also surged by 31.4% during the last year, reaching EGP 832.5bn at the end of December 2023, compared to EGP 633.6bn at the end of December 2022, an increase of EGP .67.7bn
