CIB approves to increase authorized capital to LE 50B
CIB’s issued capital is LE 11.6 billion, distributed over 1.16 billion shares at a nominal value of LE 10 per share.
The board of directors also approved the amendment of certain articles of its statute.
During the first nine months of 2018, the bank recorded consolidated profits of LE 7.02 billion, compared to LE 5.67 billion during the same months of 2017, including minority rights, with an increase of 23.75 percent.
CAIRO - 8 November 2018: The Commercial International Bank (CIB) announced its results during the first nine months of 2018, recording consolidated profits of LE 7.02 billion, compared to LE 5.67 billion during the same months of 2017, including minority rights, with an increase of 23.75 percent.
The bank clarified in a filing to the Egyptian Exchange (EGX) that the consolidated revenues rose 37 percent during the January-September period to LE 15.16 billion, compared to LE 11.03 billion during the same period of 2017.
The bank’s results during the third quarter of 2018 hiked 24 percent to LE 2.6 billion with revenues of LE 6.01 billion.
The Commercial International Bank - Egypt (CIB) has been listed on the Egyptian Exchange (EGX) since February 1995.
Founded in 1975, CIB operates within the banks sector focusing on diversified banks. It has 24 subsidiaries operating across Egypt and the United Kingdom.