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Egypt’s CIB posts 28% rise in H1 profit

Egypt’s CIB posts 28% rise in H1 profit
Photo Credit: Arabianeye - Reuters
CIB
COMI
-4.30% 74.20 -3.33

Cairo – Mubasher: Commercial International Bank  (CIB) – Egypt posted 27.9% growth in consolidated net profit for the first half of 2015 to EGP 2.255 billion ($287.28 million), compared with EGP 1.7 billion ($221.8 million) in the same period a year earlier, the bank said in a bourse filing Thursday.

Meanwhile, H1 standalone net profit amounted to EGP 2.198 billion ($280 million), a rise of 32.2% year-on-year from EGP 1.66 billion ($211.77 million).

The bank’s net interest and commissions income rose 2.33% to EGP 802 million, from EGP 683.74 million in H1-14.

CIB’s Q2 profit increased by 26.5% year-on-year to EGP 1.118 billion, from EGP 884.27 million.