Significant achievements in less than two years, CIB’s Indicators reflects the Return of Ezz Al-Arab

Since the return of Hisham Ezz Al-Arab to the leadership of the Commercial International Bank "CIB" and his assumption of the chairmanship of the Board of Directors of the Bank in March 2023 and then Chief Executive Officer last September, the Bank has witnessed significant developments that have enhanced its position in the Egyptian market

Hisham Ezz Al-Arab led CIB towards record growth rates across its various sectors, most notably the portfolio of assets, deposits and customer loans as well as a boom in net profit growth over a short period of time, reflecting the strength of the Bank's strategies and management.

One of its most notable achievements from the end of 2022 to September 2024 is the remarkable growth in the total financial position of the bank, which jumped by 76% and an increase of EGP 481 bn, exceeding its EGP 1.11 trillion asset portfolio by the end of September 2024, compared to 633.6 bn by the end of December 2022

Ezz Al-Arab has been able to boost the trust of the Bank's customers, both individuals and institutions, pushing the total portfolio to grow at 69.2%, to register EGP 896.7 bn by the end of September 2024, compared to EGP 530.1 bn by the end of December 2022, bringing an increase of EGP 366.6 bn during the period under analysis, thus consolidating the Bank's position as the largest private sector bank in terms of deposits.

The growth in deposit volume, driven mainly by the record growth in the retail deposit portfolio, which jumped by 91% and an increase of EGP 242.9 bn during the period under analysis, recorded EGP 510.8 bn by the end of September 2024, compared to EGP 267.9 bn by the end of December 2022

This is also attributable to the growth of the corporate deposit portfolio by 47.2%, to EGP 385.9 bn by the end of September 2024, compared to 262.2 bn by the end of December 2022, marking an increase of EGP 123.7 bn during the period under analysis.

In terms of granting credit, Ezz Al-Arab has adopted a balanced approach in expanding the Bank's credit portfolio while maintaining asset quality by pursuing sophisticated risk assessment strategies that reduce the likelihood of disruption, especially in the context of volatile economic conditions.

These strategies have succeeded in improving the performance of the Bank's total portfolio of loans, which jumped by 60% and an increase of EGP 131.2 bn from the end of 2022 to last September to EGP 349.8 bn, compared to 218.9 bn by the end of December 2022.

This was attributable to a 66.3% increase in the total corporate loan portfolio, reaching EGP 274.9 bn by the end of September 2024, compared to 165.3 bn by the end of December 2022, marking an increase of EGP 109.6 bn during the period under analysis.

The bank significantly boosted the size of its common loan portfolio, which jumped by 66% and an increase of about EGP 29.3 bn during the period under analysis, moving from EGP 44.7 bn by the end of December 2022, exceeding 74 bn by the end of September 2024.

In terms of retail financing, the portfolio of retail loans grew by 41% and increased by EGP 21.6 bn during the period under analysis, moving from EGP 53.3 bn by the end of December 2022 to EGP 74.9 bn by the end of September 2024.

In terms of profitability, the Bank achieved record net profit growth over the past year after jumping at a growth rate of 78.4% with an increase of EGP 12.6 bn, generating EGP 28.77 bn in 2023, compared to EGP 16.13 bn in 2022.

The Bank continued to achieve strong growth in its net profit during the year, jumping by 96% with an increase of EGP 20.8 bn, registering EGP 42.56 bn in the first 9 months of 2024, compared to 21.73 bn during the same period of 2023.

As part of the digital transformation, Ezz Al-Arab has adopted a comprehensive technological vision aimed at improving the customer experience and increasing the operational efficiency of the bank, focusing on investing in the development of CIB's digital infrastructure by launching advanced banking applications and upgrading online service platforms, thereby enhancing the customer experience and providing more flexible and fast banking services.

Ezz Al-Arab pushed the bank to integrate AI solutions and big data analysis to improve process management and develop new products that meet changing customer needs, making CIB privileged by providing advanced banking services that fit the needs of the young generation and drive towards attracting new segments