Cairo – Mubasher: The Commercial International Bank (CIB) reported a 28.9% profit increase in the third quarter of 2016 after registering EGP 1.711 billion, compared with EGP 1.32 billion for the year-ago period, a bourse filing revealed on Thursday.
In the first nine months, the bank earned EGP 4.471 billion, higher 25% year-over-year from EGP 3.583 billion, the bourse filing clarified in light of the consolidated results.
Meanwhile, the standalone nine-month profits rose 26.3% year-over-year to EGP 4.43 billion from EGP 3.51 billion.
The bank decided to raise its issued capital to EGP 11.618 billion from EGP 11.538 billion through the employee’s incentive program as per the extraordinary general meeting’s decision.
In the first half, its consolidated net profits reached EGP 2.76 billion, the bank announced earlier.
