CIB Egypt Posts FY2024 Net Income of EGP 55.2 Billion, Becoming First Egyptian Private Bank to Top $1 Billion

Commercial International Bank Egypt announced full-year 2024 net income of EGP 55.2 billion, equivalent to approximately USD 1.1 billion, a rise of 86% compared with the prior year. CIB is the first domestically incorporated, privately owned bank in the country to surpass the USD 1 billion threshold in a single financial year.

Standalone revenues reached EGP 98.6 billion for the year, up 72%. The results were disclosed in the bank's fourth-quarter 2024 earnings release published on its investor relations platform on 19 February 2025.

MARGINS, CAPITAL AND BALANCE SHEET CIB's net interest margin widened 193 basis points to 9.48% and its cost-to-income ratio improved to 13.5%, while its capital adequacy ratio stood at 24.1%. Total assets passed EGP 1 trillion, with gross loans up 50% to EGP 399 billion and deposits up 43% to EGP 968 billion.