In the second era of Hisham Ezz Al-Arab, CIB shines after the return of the godfather

Strong booms in all CIB’s indicators, achieving the fastest quarterly growth in assets, loans, deposits and net profits over the last decade

Asset portfolio exceeds EGP 1 tn by end of June 2024

The Bank achieves record growth in its total customer loans and clinches the title of the largest private sector bank in the loans market

Corporate sector drives the customer deposit portfolio to record growth, a record boom in the "retail banking" market.

Since the return of Hisham Ezz Al-Arab to the CIB as a non-executive member in November 2022, and his assumption of the presidency of the Board of Directors in March 2023, CIB started new prospects of growth and innovation, achieving record figures and surprising everyone with its significant performance.

In this journey of achievement, the Bank has successfully strengthened its portfolio and expanded its customer base, reducing distress rates and making significant profit jumps, reflecting a clear vision and tight strategic planning, making CIB not only a leader in the Egyptian banking sector, but also a role model for innovation and success.

This was revealed by a new monitoring conducted by First Bank to describe the performance of Commercial International Bank since Ezz Al-Arab returned to it.

Over the past year and a half, CIB has successfully strengthened its asset portfolio by adding EGP 418.3 bn. Its total portfolio reached EGP 1.1 tn by the end of June 2024, compared to EGP 633.6 bn by the end of 2022, with growth exceeding 66%. The Bank recorded the fastest quarterly growth in its asset portfolio in the last decade in the first half of 2024, with a growth rate of 26.4% to maintain its position as the largest private sector bank, widening the gap between it and QNB to its highest level ever.

In terms of CIB’s loans portfolio, its total customer loans jumped by 50.7% during the period under analysis, to reach EGP 329.5 bn by the end of June 2024, compared to EGP 218.6 bn by the end of 2022, enabling it to take the top of private banks on the loan portfolio level Ahead of QNB, which was on the top of the sector's loans market until the end of March 2024.

The Bank's total customer loans during the first half of this year also recorded the highest quarterly growth rate in the last decade at a growth rate of 24 .3%, with an increase of EGP 64.3 bn that pushed it to top the First Bank Credit Competitiveness Index in the first half of the 2024. You can view the list in full by clicking here

This is due to its remarkable outperformance in corporate loans, as evidenced by its portfolio of corporate loans rising to EGP 260.4 bn by the end of June 2024, compared to EGP 165.3 bn by the end of 2022, with a growth rate of 57.5%, and an increase over EGP 95 bn.

Its outstanding performance in the retail banking sector also played a role, as its retail loans portfolio exceeded EGP 69 bn by the end of June 2024, compared to EGP 53.3 bn by the end of 2022, with a growth of 29.6% and an increase of EGP 15.8 bn.

Despite these strong increases in CIB’s total loans, it managed to reduce its distress rate to 4.1% by the end of June 2024, compared to 4.81% by the end of 2022.

During the period under analysis, CIB’s customer deposit portfolio rose by 61.8%, to EGP 857.7 bn by the end of June 2024, compared to EGP 530.1 bn by the end of 2022, with an increase of EGP 327.6 bn.

During the first half of this year, the Bank recorded the highest quarterly growth rate in its portfolio of customer deposits in the last decade, with 27% growth, maintaining its position as the largest private sector bank, widening the gap between it and QNB to its highest level ever.

In addition, it was able to top the First Bank index of depositors confidence in listed Banks in the first half of 2024, where its portfolio of customer deposits jumped by EGP 182.4 bn. You can view the list in full by clicking here

This was supported by the jump in the retail deposit portfolio, which jumped to EGP 488.8 bn by the end of June 2024, compared to EGP 267.9 bn by the end of 2022, with a growth of 82.5% and an increase in contact with EGP 221 bn.

The increase in corporate deposits was also a factor in the growth of the total portfolio, with growth of its size rising to EGP 368.9 bn by the end of June 2024, compared to EGP 262.2 bn by the end of 2022, with a growth of 40.70% and an increase of EGP 106.7 bn.

In terms of CIB’s capital, it jumped by 53.50% during the period under analysis, reaching EGP 30.4 bn by the end of June 2024, compared to EGP 19.8 bn by the end of 2022, representing an increase of EGP 10.6 bn.

This outstanding performance propelled CIB towards strong profits, with net profits jumping by 78.4%, reaching EGP 28.8 bn in 2023, compared to EGP 16.1 bn in 2022, with an increase of EGP 12.6 bn.

As for its net profit during the year, it jumped by 95.73% to EGP 27.7 bn in the first half of 2024, compared to EGP 14.1 bn during the same period in 2023, with an increase of EGP 13.54 bn, achieving the fastest quarterly growth rate during the last decade, maintaining its position as the largest private sector bank in profit.

In conclusion, the outstanding performance of Commercial International Bank under the leadership of Hisham Ezz Al-Arab demonstrates the strength of the strategy and vision adopted by the Bank during the recent period, and also shows that the Bank with these huge leaps in growth and profitability, is at the threshold of a new phase of excellence and innovation in the Egyptian banking market.