Cairo – Mubasher: The consolidated financial statements of Commercial International Bank – Egypt (CIB) reported a 23.2% year-on-year profit growth during 2019.
The lender’s net profits increased to EGP 11.8 billion last year from EGP 9.58 billion in 2018, including minority shareholders’ rights, according to a recent statement.
Net interest income rose to EGP 21.57 billion during the 12-month period ended 31 December 2019, compared to EGP 18.14 billion a year earlier.
As for standalone business, the bank’s net profits amounted to EGP 11.8 billion in 2019, up from EGP 9.55 billion in the previous year.
It is noteworthy that during the first nine months of 2019, CIB 7.019 reported net profits of EGP 8.537 billion, compared to EGP 7.019 billion in the prior-year period.
