Cairo – The consolidated net profits of Commercial International Bank-Egypt (CIB) increased to EGP 27.54 billion in the first half (H1) of 2024 from EGP 14.05 billion in H1-23.

Net interest income amounted to EGP 41.53 billion as of 30 June 2024, up year-on-year (YoY) from EGP 23.89 billion, according to the financial statements.

During the first six months (6M) of 2024, the basic earnings per share (EPS) grew to EGP 8.08 from EGP 4.16 in the year-ago period.

Total assets hiked to EGP 1.05 trillion at the end of June 2024 from EGP 834.86 billion as of 31 December 2023.

Standalone Financials

CIB posted an annual surge in standalone net profit after tax to EGP 27.68 billion during H1-24, versus EGP 14.14 billion.

Non-consolidated net interest income rose to EGP 41.44 billion in H1-24 from EGP 23.79 billion in H1-23.

Income statements for Q2

The bank achieved consolidated profits worth EGP 15.62 billion in the second quarter (Q2) of 2024, compared to EGP 7.98 billion in Q2-23.

Basic EPS widened to EGP 4.59 in Q2-24 from EGP 2.36 a year earlier, while the net interest income enlarged to EGP 22.73 billion from EGP 13 billion.

Meanwhile, the standalone profits soared to EGP 15.73 billion from EGP 8.05 billion, whereas the net interest income jumped to EGP 22.68 billion from EGP 12.95 billion.

In the three-month period that ended on 31 March 2024, CIB posted higher consolidated net profits at EGP 11.92 billion, compared to EGP 6.06 billion in Q1-23.

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