Cairo - Mubasher: The Commercial International Bank – Egypt (CIB) on Tuesday reported a 27% year-on-year rise in profits for 2018.
Net profits totalled EGP 9.58 billion during the 12-month period ended December, up from EGP 7.53 billion in 2017, the bank said in a filing to the Egyptian Exchange (EGX).
Net income surged to EGP 18.14 billion last year from EGP 12.5 billion a year earlier, the leading bank added.
Meanwhile, standalone profits climbed to EGP 9.55 billion during the period between January to December 2018, versus EGP 7.55 billion in 2017.
CIB previously posted a 24% year-on-year increase in profits for the first nine months of 2018, recording a net profit of EGP 7.01 billion from EGP 5.67 billion.
Net income rose to EGP 13.3 billion during the period between January and September, from EGP 9.3 billion in the year-ago period.
