Cairo – Mubasher: The Commercial International Bank (CIB) reported a 28.25% rise in its consolidated profits for the second quarter of 2016 (Q2), a bourse filing revealed.
The bank's Q2 earnings thus reached EGP 1.46 billion, compared with EGP 1.15 billion for the year-ago quarter, taking minority rights into consideration.
Over the first six months, its consolidated net profits rose by 22.6% year-over-year to EGP 2.76 billion from EGP 2.25 billion.
On the other hand, the unconsolidated financial results showed that Q2 earnings also grew by 25% year-over-year to EGP 1.4 billion from EGP 1.1 billion.
Similarly, its H1 standalone earnings moved up to EGP 2.7 billion, thus registering a 24% increase, compared with EGP 2.2 million profits for the year-ago period.
During the first quarter, the bank registered EGP 1.29 billion profits, higher 16.9% year-over-year from EGP 1.11 billion.
On Wednesday, the stock quote was 3.5% higher to EGP 45.54 by the end of the session.
