CIB achieves significant performance, recording 57.6 points on First Bank Financial Soundness Index

The Commercial International Bank scores 57.6 points on the First Bank Financial Soundness Index by the end of the first half of 2024, compared to the sector average of 50 points on this index by the end of the same period, highlighting the Bank's superiority over the sector average at the level of financial soundness 

The financial safety soundness index, developed by First Bank’s research center, evaluates the strength and resilience of financial institutions, their financial safety, and their ability to safeguard the funds of depositors and shareholders.

The financial soundness index considers 6 metrics: capital adequacy ratio, leverage ratio, asset coverage ratio for deposits, shareholders’ Equity coverage ratio for deposits, loans to deposits ratio, and non-performing loan ratio.

With regard to the first sub-indicator of the financial soundness index, the capital adequacy ratio, CIB recorded 26.2% by the end of June 2024, exceeding the banking sector average of 18.6% in the same period and the regulatory limit set by the Central Bank of Egypt which is consistent with Basel Accord of 12.5%

As for the second element of the Financial soundness Index, the leverage ratio, CIB exceeded the banking sector average, with the bank's leverage ratio being 9.50% by the end of June 2024, compared to the sector average of 7.5% in the same period

In terms of the third element, the non-performing loan ratio, it stood at 4.1% at the end of June 2024, compared to the sector average of 2.7% in the same period

The fourth element, the deposit employment rate for loans (loans/deposits), achieved 38.41% by the end of the first half of 2024, compared to 60.3% exceeding the sector at the end of the same period

Regarding the fifth element of the First Bank Financial soundness Index, Asset coverage ratio for deposits (assets/deposits), the Bank registered 122.64% by the end of June 2024, compared to the banking sector average of 161.25% in the same period

As for the sixth and final element, Shareholders’ Equity coverage ratio for deposits (equity/deposit),  CIB exceeded the sector average, reaching 13.78% by the end of June 2024, compared to 10.50% at the banking sector level in the same period

For more about the Commercial International Bank and its highlights, click more