Cairo – Mubasher: The Commercial International Bank-Egypt (CIB) reported consolidated net profits of EGP 2.873 billion in the first quarter (Q1) of 2021, up by 19.7% year-on-year (YoY) from EGP 2.398 billion, including minority shareholders’ rights.

The bank’s net interest income fell to EGP 5.677 billion in the three-month period ended 31 March, compared to EGP 6.195 billion in the year-ago period, according to a bourse disclosure on Sunday.

As for standalone business, the lender achieved net profits of EGP 2.876 billion in Q1-21, up from EGP 2.391 billion in Q1-20.

In 2020, CIB reported consolidated net profits of EGP 10.23 billion, down from EGP 11.8 billion in 2019, excluding minority shareholders’ rights.