CIB approves to increase authorized capital to LE 50B #Fri_Jan

CIB approves to increase authorized capital to LE 50B #Fri_Jan

January 12, 2019 0 By NewsTakers

Fri, Jan. 11, 2019
Fri, Jan. 11, 2019
CAIRO – 10 January 2018: The board of directors of the Commercial International Bank (CIB) agreed to increase the bank’s authorized capital to LE 50 billion, up from LE 20 billion.
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.

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