Cairo - Mubasher: MubasherTrade Research has maintained their Sell/Moderate Risk rating for the stock of the Commercial International Bank - Egypt (CIB), with the same price target (PT) at EGP 76 per share, according to a recent report.

CIB posted a rise in profits for the first half of 2017 by 29.2% year-on-year, as profits reached EGP 3.58 billion in H1-17, compared to EGP 2.75 billion for the corresponding period last year.

Profits amounted to EGP 1.82 billion in the second quarter of 2017, growing by 24.8% from EGP 1.46 billion in Q2-16.

The report noted that the positive Q2-17 results reflect the bank's efficiency and improved profitability, noting that they came broadly in line with the estimates of the research firm.

Despite that assets growth continues but it is seeing deteriorating quality on annual basis, the report noted.