CIB profits Hits EGP 2.64bn in Q1
The Commercial International Bank (CIB) has achieved profits of EGP 2.64bn during the first quarter (Q1) of this year, compared to EGP 2.02bn during Q1 of 2018, a 30.69% increase.
In a statement sent to Egyptian Exchange (EGX) on Monday, CIB explained that the net income from the bank’s revenue increased during that period by 51.52%, reaching EGP 4.94bn, against a net profit of EGP 3.26bn during Q1 of 2018.
The bank achieved profits of EGP 9.58bn in 2018, against EGP 7.53bn in 2017.
The financial statements of the bank revealed an increase in the loans portfolio during Q1 of 2019 by 5.59%, reaching EGP 112.25bn, compared to EGP 106.31bn in Q1 of 2018.
The deposits portfolio in the CIB increased during the same period by 2.82%, reaching EGP 293.35bn, compared to EGP 285.3bn.
The bank pointed out that its total assets increased during Q1 of 2019 by 2.69%, reaching EGP 351.68bn, compared to EGP 342.46bn during the same period last year.
Related Posts
Absa promotes Nivash Sewgobind to Head of Performance Analytics
Nivash Sewgobind has been promoted to Head of Performance Analytics & Business Partnering at Absa Group, marking a…
ByN Seven increases equity stake in Guinness Nigeria via NGX
Major shareholder N Seven Nigeria Limited has increased its equity holding in Guinness Nigeria Plc after purchasing 550,092…
Eric Intong Monchu tapped new MD(CRRO) at Afreximbank
Cameroonian banker Eric Intong Monchu has been officially confirmed as Group Managing Director, Client Relations and Regional Operations(CRRO)…
AFC launches new Bermuda Subsidiary to manage infrastructure risk
Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, has established a wholly owned Bermudian subsidiary, AFC…
Gallery
