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CIB board to review 2015 financial figures

CIB board to review 2015 financial figures
Photo Credit: Arabianeye - Reuters
CIB
COMI
-0.29% 82.28 -0.24

Cairo – Mubasher: Commercial International Bank (CIB) – Egypt said it will hold board of directors meeting on 10 February to endorse the bank’s financial statements for 2015.

CIB reported an increase of 32% in net profits for the first nine months of 2015, as it reached EGP 3.58 billion up from EGP 2.7 billion a year earlier.

On other hand, earlier CIB has asked NBE Capital to submit a non-binding offer to acquire its investment arm CI Capital.

CIB received a letter on Thursday from NBE Capital, a subsidiary from the National Bank of Egypt (NBE), showing interest in acquiring CI Capital, without submitting a non-binding offer.