CIB's corporate sector achieves significant performance during 2024

Corporate sector of CIB has undergone a remarkable development in the first 9 months of this year, driven by the efforts of Hisham Ezz Al-Arab, the Bank's Chief Executive Officer and his team.

This growth has not only increased the volume of funding, but also extended to strengthening corporate deposits, which have seen strong growth reflecting the growing level of confidence of companies and institutions in the Bank's services.

This positive development reflects the efficiency of strategies adopted by CIB and its effective response to customer needs, both in terms of innovative financial solutions and supporting the cash liquidity of corporates of various sizes and sectors.

In addition, the outstanding performance of the Bank has played a pivotal role in strengthening its position as one of the leading players in the sector of corporate finance and major deals

This achievement not only reflects its ability to deliver flexible and inclusive financing solutions, but also its commitment to building long-term partnerships with its customers, contributing to supporting business growth and boosting the economy in general.

Record jump in corporate loans

Commercial International  Bank has increased its corporate loans, including microcredit for economic activities. Its portfolio jumped about a 34.09% in the first 9 months of this year, To reach EGP 274.928 bn by the end of September 2024, compared to 205.038 billion pounds by the end of 2023, an increase of 69.889 billion pounds With the fourth place on First Bank's list of the fastest growing banks in corporate loans in the first 9 months of 2024.

This strong performance was driven mainly by an increase in current account balances owed to corporates, rising to 73.588 billion pounds by the end of September 2024, compared to 54.824 billion pounds by the end of 2023, with a growth of 34.23% and an increase of 18.764 billion pounds

The direct loan portfolio rose by 28.25% in the first 9 months of 2024, to 126.288 billion pounds by the end of September 2024, compared to 98.468 billion pounds by the end of 2023, with an increase of 27.820 billion pounds

Syndicated loan portfolio jumped from 51.311 billion pounds by the end of 2023, to 74.048 billion pounds by the end of September 2024, a growth of 44.31% and an increase of 22.737 billion pounds

The corporate sector contributed 78.59% to the Bank's total finance portfolio, which jumped to 349.808 billion pounds by the end of September 2024, compared to 265.103 billion pounds by the end of 2023, a growth of 31.95% and an increase of 84.705 billion pounds, leading the First Bank credit competitiveness index for banks operating in the Egyptian banking sector during the first 9 months of 2024.

Corporate sector accounts for 43.03% of  CIB's total deposit portfolio

CIB's corporate deposit portfolio recorded strong growth during the first 9 months of this year, jumping to 385.89 billion pounds by the end of September 2024, compared to 305.935 billion pounds by the end of 2023, a growth of 26.13% and an increase in contact of 80 billion pounds

The corporate sector accounted for 43.03% of the Bank's total deposit portfolio After the portfolio of International Commercial customers rose to 896.692 billion pounds by the end of September 2024, compared to 675.31 billion pounds by the end of 2023, a growth rate of 32.78%, A total increase of 221.382 billion pounds, clinching second place on the First Bank Depository Confidence Index for banks operating in the Egyptian banking sector in the first 9 months of 2024

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