CIB’s consolidated profits climb 89% YoY in 9 months
Updated 11/4/2024 10:45:00 AM
Arab Finance: Commercial International Bank Egypt (CIB) reported an 89% year-on-year (YoY) surge in consolidated net profits after tax and minority interest to EGP 42.348 billion in the first nine months of 2024 from EGP 22.406 billion, according to a disclosure.
Net interest income grew to EGP 65.683 billion in the nine-month period from EGP 37.731 billion over the same period last year.
The bank earned EGP 42.557 billion in standalone net profits after tax from January through September, compared to EGP 21.732 billion in the corresponding period of 2023.
Meanwhile, standalone net interest income jumped to EGP 65.526 billion from EGP 37.587 billion.
CIB, the leading private sector bank in Egypt, provides banking services across the country. The bank's segments include corporate banking, investment banking, retail banking, treasury and capital market services, and others.
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