CIB gains profits of LE4.99B in 6 months

CAIRO –  14 July 2020: The Commercial International Bank’s (CIB) consolidated profits dropped 6.6 percent during the first half of 2020, recording LE 4.99 billion, compared to LE 5.35 billion, including minority rights, in the same period of 2019.

The bank clarified that the net income from the revenue increased to LE 12.47 billion, compared to LE 10 billion in the first half of last year.

As per standalone results, the bank’s profits reached LE 5.001 billion, compared to LE 5.35 billion in the first half of 2019.

During the first quarter of 2020, the bank’s consolidated profits amounted to LE 2.39 billion, compared to profits amounting to LE 2.64 billion in the same period of 2019, taking into account the minority rights.

AIB accomplished profits of LE 11.8 billion in 2019, compared to LE 9.58 billion in 2018, taking into account minority rights.

The bank’s net income from revenue increased during 2019 reached LE 21.57 billion, compared to LE 18.14 billion in the previous year.