Cairo – Mubasher: Commercial International Bank - Egypt (CIB) on Thursday posted a 23.4% year-on-year rise in consolidated profits for the first half of 2018.

Net profit amounted to EGP 4.42 billion in the six-month period ended June, versus EGP 3.58 billion in the year-ago period, the bank said in a filing to the Egyptian Exchange (EGX).

Meanwhile, standalone profits went up by 22% to reach EGP 4.41 billion at the end of June, compared to EGP 3.6 billion in H1-17.

CIB previously reported a 15% year-on-year increase in consolidated profits for Q1-18, recording a net profit of EGP 2.02 billion from EGP 1.7 billion.