Commercial International Bank Egypt (CIB) reported a 43% year-on-year increase in consolidated net profit after minority interest for the first quarter (Q1) of 2023, according to the bank’s financial statement filed to the Egyptian Exchange (EGX) on May 15th.

Consolidated net profit attributable to the bank amounted to EGP 6.065 billion in Q1 2023, compared to a profit of EGP 4.244 billion in Q1 2022.

Net interest income rose 62% YoY, hitting EGP 10.884 billion, compared to EGP 6.717 billion.

Likewise, the bank’s standalone net profit after tax grew 44% YoY to EGP 6.084 billion during the three-month period ended March 31st from EGP 4.240 billion in the same quarter of 2022.

CIB, the leading private sector bank in Egypt, provides banking services across the country through more than 200 branches and units.

The bank's segments include corporate banking, investment banking, retail banking, treasury and capital market services, and others.

 

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