Cairo – Mubasher: The consolidated net profits after tax of Commercial International Bank-Egypt (CIB) reached EGP 14.05 billion during the first half (H1) of 2023, an annual hike from EGP 7.78 billion.
The interim financial results showed that the net interest income enlarged to EGP 23.89 billion in H1-23 from EGP 13.72 billion in the year-ago period.
Basic earnings per share (EPS) amounted to EGP 4.17 during the January-June 2023 period, higher than EGP 2.29 in H1-22.
The total assets hit EGP 796.29 billion during H1-23, versus EGP 635.85 billion as of 31 December 2022.
Standalone Business
During the first six months (6M) of 2023, the standalone net profits after tax widened to EGP 14.14 billion from EGP 7.77 billion in 6M-22. Non-consolidated net interest income climbed to EGP 23.79 billion from EGP 13.69 billion.
Financial Results for Q2-23
CIB posted a year-on-year (YoY) surge in consolidated net profit after tax to EGP 7.98 billion during the second quarter (Q2) of 2023, compared to EGP 3.52 billion.
Net interest income jumped to EGP 13 billion in Q2-23 from EGP 7.01 billion in Q2-22, while the basic EPS increased to EGP 2.38 from EGP 1.04.
As for the standalone statements, the net profits amounted to EGP 8.05 billion in April-June 2023, up YoY from EGP 3.53 billion.
The bank’s separate net interest income stood at EGP 12.95 billion in Q2-23, compared to EGP 7.09 billion during the corresponding period in 2022.
Last year, the EGX-listed lender generated EGP 16.17 billion in consolidated net profit after tax, a 22% rise from EGP 13.26 billion in 2021, including minority interest.
