CIB’s Q3 consolidated profit jumps 89% YoY
Updated 11/5/2023 7:48:00 AM
Arab Finance: Commercial International Bank Egypt (CIB) reported an 89% year-on-year increase in consolidated net profit after minority interest for the third quarter (Q3) of 2023, according to the bank’s earnings release issued on November 2nd.
Consolidated net profit attributable to the bank amounted to EGP 8.353 billion in Q3 2023, compared to a profit of EGP 4.419 billion in Q3 2022.
Net interest income rose 71% YoY, hitting EGP 13.838 billion, compared to EGP 8.089 billion.
Likewise, the bank’s standalone net profit after tax grew 71% YoY to EGP 7.589 billion during the three-month period ended September 30th from EGP 4.432 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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