CIB’s retail deposits grow by 20.1% during Q1-2024, recording EGP 443.6 bn

The separate financial statements of Commercial International Bank - CIB, which ended on March 31, revealed an increase in the bank's retail deposit portfolio at a growth rate of 20.08% and an increase of EGP 74.19 bn during Q1 of this year, reaching EGP 443.56 bn by the end of March 2024, compared to 369.37 bn by the end of December 2023. 

Corporate deposit portfolio rose by 14.03%, with an increase of EGP 42.91 bn during the first 3M of this year, after registering EGP 348.85 bn by the end of March 2024, compared to 305.94 bn by the end of December 2023.

CIB's total customer deposit portfolio rose by EGP 117.10 bn in the first 3M of this year, moving from EGP 675.31 bn by the end of December 2023, reaching 792.41 bn by the end of March 2024, to grow at a 17.34% rate.

Demand deposits portfolio also increased by 13.86%, with an increase of EGP 35.41 bn during Q1 of this year, to record EGP 290.97 bn by the end of March 2024, compared to 255.56 bn by the end of December 2023.

Time Deposits portfolio jumped at a growth rate of 27% and an increase of EGP 31.32 bn during Q1 of this year, reaching EGP 147.34 bn by the end of March 2024, compared to EGP 116.02 bn by the end of December 2023.

Certificates of savings and deposits portfolio rose by 12.86%, with an increase of EGP 24.29 bn during Q1 of this year, registering EGP 213.12 bn by the end of March 2024, compared to EGP 188.83 bn by the end of December 2023.

The size of the saving deposit portfolio rose by 23.03% during the first 3M of this year, registering about EGP 132.05 bn by the end of March 2024, compared to 107.33 bn by the end of December 2023, while the other portfolio reached about EGP 8.93 bn by the end of March.