Cairo – Mubasher: Commercial International Bank-Egypt (CIB) recorded consolidated net profits attributable to the shareholders amounting to EGP 22.40 billion in the first nine months (9M) of 2023.

The announced net profits were higher year-on-year (YoY) than EGP 12.17 billion, according to the consolidated interim financial statements.

Net interest income hiked to EGP 37.73 billion during January-September 2023 from EGP 21.81 billion in 9M-22, while the basic earnings per share (EPS) jumped to EGP 6.41 from EGP 3.62.

Total assets enlarged to EGP 811.06 billion in 9M-23 from EGP 635.83 billion as of 31 December 2022.

Standalone Business

Non-consolidated net profits after tax reached EGP 21.73 billion in 9M-23, marking a rise from EGP 12.20 billion in the year-ago period.

CIB reported net interest income standing at EGP 37.58 billion as of 30 September 2023, up YoY from EGP 21.71 billion.

Financials for Q3-23

During the third quarter (Q3) of 2023, the bank logged consolidated net profits attributable to the owners valued at EGP 8.35 billion, an annual leap from EGP 4.40 billion.

The net interest income widened to EGP 13.83 billion in Q3-23 from EGP 8.08 billion a year earlier, while the basic EPS increased to EGP 2.24 from EGP 1.31.

Standalone net profits after tax soared to EGP 7.58 billion in July-September from EGP 4.43 billion in Q3-22, whereas the net interest income climbed to EGP 13.79 billion from EGP 8.01 billion.

In the first half (H1) of 2023, CIB registered EGP 14.05 billion in consolidated net profit after tax, higher than EGP 7.78 billion in H1-22.