Arab Finance: Commercial International Bank Egypt (CIB) reported a 96% year-on-year (YoY) surge in consolidated net profits after tax and minority interest to EGP 27.547 billion in the first half (H1) of 2024 from EGP 14.053 billion, according to disclosure.
Net interest income grew to EGP 41.537 billion in H1 2024 from EGP 23.893 billion in H1 2023.
The bank earned EGP 27.683 billion in standalone net profits after tax from January through July, compared to EGP 14.144 billion in the same period last year.
Meanwhile, standalone net interest income jumped to EGP 41.44 billion from EGP 23.79 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.