Commercial International Bank Egypt (CIB) reported a 43% year-on-year increase in consolidated net profit after minority interest for the first quarter (Q1) of 2023, according to the bank’s financial statement filed to the Egyptian Exchange (EGX) on May 15th. Consolidated net profit attributable to the bank amounted to EGP 6.065 billion in Q1 2023, compared to a profit of EGP 4.244 billion in Q1 2022. Net interest income rose 62% YoY, hitting EGP 10.884 billion, compared to EGP 6.717 billion. CIB, the leading private sector bank in Egypt, 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.

Source: The North Africa Journal May 15, 2023 09:44 UTC