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CIB registers 22% profit increase

CIB registers 22% profit increase

ArabFinance: The Commercial International Bank (CIB) (COMI) achieved a consolidated net profit before minority interest of EGP 6.090 billion in half one (H1) 2021, according to the bank's financial statements filed to the Egyptian Exchange.

This marked a Year on Year (YoY) rise of 22% when compared to EGP 4.998 billion in Q1 2020.

Standalone net profit reached EGP 6.077 billion in H1 2021, a 21% increase from EGP 5.002 billion posted in H1 2020.

CIB has opened a subscription for the first green bond to be issued in the local market after having received initial approval from the Financial Regulatory Authority on June 21st.

On May 27th, Talaat Moustafa Group (TMG) (TMGH) and CIB announced the establishment of a new entity specialized in real estate lending during quarter one of 2021.

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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