Cairo – Mubasher: Commercial International Bank-Egypt (CIB) logged consolidated net profits worth EGP 11.92 billion in the first quarter (Q1) of 2024, marking an annual leap from EGP 6.06 billion.

Net interest income hiked year-on-year (YoY) to EGP 18.80 billion in Q1-24 from EGP 10.88 billion, according to the financial statements.

Basic earnings per share (EPS) hit EGP 3.50 in the first three months (3M) of 2024, compared to EGP 1.78 in Q1-23.

Total assets amounted to EGP 977.14 billion as of 31 March 2024, higher than EGP 834.86 billion at the end of December 2023.

Standalone Results

The standalone net profits of CIB stood at EGP 11.94 billion in Q1-24, compared to EGP 6.08 billion in Q1-23.

Non-consolidated net income climbed to EGP 18.76 billion in January-March 2024 from EGP 10.83 billion a year earlier.

In 2023, the EGX-listed lender recorded higher consolidated net profits after tax at EGP 29.66 billion, compared to EGP 16.17 billion in 2022.