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CIB logs EGP 10B profit

CIB logs EGP 10B profit

ArabFinance: The Commercial International Bank (CIB) (COMI) posted a consolidated net profit of EGP 10.23 billion in 200, down 12% when compared to EGP 11.800 billion in 2019, according to the bank’s statement.

The bank’s standalone net profit recorded EGP 10.29 billion last year, compared to EGP 11.803 billion in 2019.

“CIB achieved another milestone in financial performance, while maintaining top-notch solvency,” despite the year being “beset with unprecedented dynamics,” the statement highlighted.

The bank reported a 7% Year on Year decline in its net consolidated profit for the first half (H1) of 2020, recording EGP 4.99 billion, compared to EGP 5.35 billion in the corresponding period a year earlier.

CIB provides banking services across the country through more than 200 branches and units. The bank's segments include corporate banking, investment banking, retail banking, treasury and capital market services, and others.

 

 

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