CIB’s Net profits jump by 95.73%, recording EGP 27.68 bn during H1- 2024
First Bank
CIB's separate financial statements for the period ended June 30, 2024, announced on its official website, revealed that the bank's net profit rose by 95.73%, reaching EGP 27.683 bn during H1 of the current year, compared to EGP 14.143 bn during the same period from 2023, with an increase of EGP 13.54 bn.
Profits before income taxes jumped by 91.58%, reaching EGP 38.559 bn during H1-2024, compared to EGP 20.127 bn during the same period of 2023, with an increase of EGP 18.432 bn.
Net interest income rose to EGP 41.44 bn during the first haif of this year, compared to EGP 23.79 bn in the same period from 2023, with a growth of 74.19%.
Regarding the bank's financial position, the assets portfolio rose by 26.36% in H1 of this year, reaching EGP 1.05 tn by the end of June 2024, compared to EGP 832.527 bn by the end of 2023.
The customer deposits portfolio rose to EGP 857.741 bn by the end of June 2024, from EGP 675.31 bn by the end of 2023, with a growth of 27.01% and an increase of EGP 182.431 bn.
The bank's total customer loans jumped by EGP 64.35bn in H1 of this year, to EGP 329.451 bn by the end of June 2024, compared to EGP 265.103 bn by the end of 2023.
