Saturday 22 Feb
Commercial International Bank (Egypt) has announced a significant surge in profits for 2024. The bank's consolidated financial statements revealed an impressive 86.24% year-on-year increase.
The bank's net profit reached 55.25 billion Egyptian pounds (EGP) in 2024, a significant increase from 29.67 billion EGP in 2023. This figure takes into account minority rights.
The bank experienced substantial growth in both net interest
income and standalone profits. Net interest income increased to EGP 91.06
billion in 2024, up from over EGP 52.92 billion in 2023. On a standalone basis,
profits reached EGP 55.43 billion in 2024, compared to EGP 28.76 billion the
previous year.
For the first nine months of 2024 (January to September), Commercial International Bank - Egypt reported a net profit of EGP 42.34 billion. This represents a substantial increase compared to the same period in 2023, where profits were EGP 22.4 billion, with both figures considering minority rights.
