CIB’s loans to deposit ratio settled at 39.5 % by March 2024end

The separate financial statements of CIB, ending on March 31 of the current year, revealed loans to deposits ratio settled at 39.48% by the end of March 2024, compared to 39.26% by the end of December 2023.

The bank witnessed srrong performance in its key indicators, The Bank's deposit portfolio increased by 17.34%, an increase of EGP 117.10bn in the first 3 months of the current year, totaling EGP 792.41 bn by the end of March 2024, compared to EGP 675.31 bn by the end of December 2023.

The bank increased credit issuance to its customers by approximately EGP47.73bn during the first quarter of the current year, Total financing and facilitation for customers reaching EGP 312.83 bn by the end of March 2024, compared to EGP 265.10 bn by the end of December 2023.

On the financial position front, the bank achieved a growth rate of 16.80%, with an increase of EGP 139.83bn during the first 3 months of the current year, recording total assets around EGP 972.36 bn by the end of March 2024, compared to EGP 832.53 bn by the end of December 2023.

CIB’s net profits surged by 96.37%, with an increase of EGP5.86bn, registering EGP 11.95bn during Q1- 2024, compared to EGP 6.08bn during the same period of 2023