Commercial International Bank Egypt reported consolidated net income of EGP 16.6 billion for the first quarter of 2025, a 39.5% increase year-on-year, with earnings per share reaching EGP 4.83, the bank reported on 13 May 2025. Return on average equity was 43%.
Net funded income — the primary revenue line for the bank's lending and deposit activities — expanded 35.1% year-on-year to EGP 25.4 billion, driven by a combination of loan book growth and the elevated Egyptian interest rate environment that has prevailed since the central bank's tightening, which culminated in a 600-basis-point hike alongside the March 2024 currency liberalisation. Net advances rose 40% year-on-year to EGP 380.4 billion.
PROVISIONS FALL ON MODEL RECALIBRATION
CIB booked only EGP 68.5 million in provisions during the quarter, compared with EGP 1.48 billion in Q1 2024, a reduction of more than 95%. The bank attributed the movement to a recalibration of its expected credit loss model, after the bank concluded that the conservative assumptions of recent years had pushed provisioning well above market averages.
The non-performing loan ratio stood at 3.1%, with provision coverage of 337%.
LOAN GROWTH
Growth in net advances was led by the corporate banking segment, with local-currency loans up 52% year-on-year.
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