CIB's retail loans grow by 9%, reaching EGP 65.2 bn during Q1-2024
First Bank
The financial statements of commercial International Bank-CIB, for the period ending on March 31 of the current year, have revealed a growth in the bank's portfolio of retail loans by a rate of 8.59% during Q1- 2024, amounting to an increase of EGP 5.16 Bn.
The size of the bank's portfolio of retail loans reached EGP 65.23 bn by the end of March 2024, compared to EGP 60.07 bn by the end of December 2023.
Contributing to this growth, CIB's personal loans rose by 10.01% and witnessed an increase of EGP 4.26 bn during the first quarter of this year to record EGP 46.76bn by the end of March 2024, compared to EGP 42.51bn by the end of December 2023.
The size of the bank's credit cards increased by 4.78%, with an increase of EGP 492 mn during the first 3 months of 2024, moving from EGP 10.30 bn by the end of December 2023, to reach EGP 10.79bn by the end of March 2024.
It is worth noting that the total customer loan portfolio surged by 18% and an increase of EGP 47.73 bn during the first quarter of the current year, reaching EGP 312.83bn by the end of March 2024, compared to EGP 265.10bn by the end of December 2023.
