Cairo – Mubasher: Commercial International Bank – Egypt (CIB) posted a 29.2% year-on-year rise in its profits during the first half of 2017, according to a bourse statement.

Profits reached EGP 3.58 billion in H1-17, compared to EGP 2.75 billion in the prior-year period.

The bank posted profits of EGP 1.82 billion in the second quarter of 2017, up 24.8% from EGP 1.46 billion in the prior-year period.

The bank’s balance sheet has become more flexible, accepting any rise of fall in interest rates and foreign exchange rates.