CIB’s net income rose 29% y-o-y in 2Q 2026 and posted its strongest-ever quarterly local-currency deposit haul

CIB reported a 29% y-o-y increase in consolidated net income to EGP 21.5 bn in 2Q 2026, as revenues climbed 23% to EGP 34.4 bn, according to an earnings release (pdf). The performance was driven by a 20% increase in net interest income to EGP 31.1 bn, alongside a 71% rise in non-interest income to EGP 3.2 bn.

The strong quarter lifted first-half net income 18% y-o-y to EGP 39.3 bn, while net interest income increased 18% to EGP 60.8 bn and total revenues rose 20% to EGP 65.6 bn. Net interest margin came in at 8.61% during the period, down 35 bps y-o-y as lower interest rates weighed on margins, though the decline was largely cushioned by the bank’s high share of low-cost current account and savings account (CASA) deposits.

Local-currency deposits grew by a record EGP 141 bn in the quarter — the bank’s strongest-ever quarterly haul — with three-quarters of that coming from CASA. Local-currency loans, including securitization transactions, grew by EGP 45 bn (9%), with corporate lending the main driver of loan growth overall. First-half net fee and commission income climbed 40% y-o-y to EGP 5.8 bn.

New-to-bank customers rose 35% y-o-y to 227k in 1H 2026, which CIB attributes to continued investment in digital banking and new product launches. Management said it remains focused on balance sheet resilience, operational efficiency, and what it called sustainable growth “while staying mindful of the associated economic cost of capital.”