{"id":645460,"date":"2017-07-20T04:05:42","date_gmt":"2017-07-20T04:05:42","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/20\/cib-delivers-record-earnings-in-1h17\/"},"modified":"2017-07-20T04:05:42","modified_gmt":"2017-07-20T04:05:42","slug":"cib-delivers-record-earnings-in-1h17","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/20\/cib-delivers-record-earnings-in-1h17\/","title":{"rendered":"CIB delivers record earnings in 1H17"},"content":{"rendered":"

<\/a> EARNINGS WATCH- CIB delivered another record top- and bottom-line performance<\/strong> during the first half of the year as it released its earnings late last night. The lender delivered 29% revenue growth to EGP 6.88 bn, while its bottom line grew 29% over the same period last year to EGP 3.56 bn. The bank\u2019s management team noted in a statement that despite the ambiguity with regards to the CBE corridor rate movement decisions, the bank grew its loan portfolio, despite the backdrop of a shortage in local currency liquidity and subdued growth in lending. \u201c Bank\u2019s balance sheet has become more lenient to accommodate any up- or down-moves in both interest rates and currency exchange rates,\u201d CIB said. Download CIB\u2019s full earnings release here (pdf)<\/a>.<\/p>\n

In other CIB news, the bank\u2019s shareholders approved increases to its issued and paid-up capital to EGP 14.52 bn<\/strong> from EGP 11.62 bn through bonus shares issuance, according to a bourse disclosure<\/a>. Shareholders will be issued an extra share for every four shares they hold. The capital increase will be financed from CIB\u2019s general reserves.<\/p>\n","protected":false},"excerpt":{"rendered":"

EARNINGS WATCH- CIB delivered another record top- and bottom-line performance during the first half of the year as it released its earnings late last night. The lender delivered 29% revenue growth to EGP 6.88 bn, while its bottom line grew 29% over the same period last year to EGP 3.56 bn. The bank\u2019s management team […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-645460","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"d2d7429c-a214-459e-bb61-c74ff9975ab1","order":"0","is_powered_by":true,"section_story_id":"edfe9036-f4ac-4fc6-aba2-01dc4933b987","story_type":"1","photo_url":"","photo_position":"above","related_issue":[645451],"teaser":"","voice_url":""},"yoast_head":"\nCIB delivers record earnings in 1H17 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/07\/20\/cib-delivers-record-earnings-in-1h17\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CIB delivers record earnings in 1H17\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- CIB delivered another record top- and bottom-line performance during the first half of the year as it released its earnings late last night. 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The lender delivered 29% revenue growth to EGP 3.32 bn, while its bottom line swelled 34% over the same period last year to EGP 1.73 bn. The bank\u2019s\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":621453,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/08\/egypts-cib-posts-3q2018-results\/","url_meta":{"origin":645460,"position":1},"title":"Egypt\u2019s CIB posts 3Q2018 results","author":"enterpriseam admin","date":"8 November 2018","format":false,"excerpt":"EARNINGS WATCH- CIB posts record third quarter earnings: Our friends at CIB delivered a 24% y-o-y rise in net income of EGP 2.6 bn in 3Q2018 on revenues of EGP 6.01 bn (up 45% y-o-y). Commenting in the bank\u2019s earnings release overnight, management said CIB\u2019s strong performance underscores the bank\u2019s\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637166,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/09\/cib-reports-record-third-quarter-earnings\/","url_meta":{"origin":645460,"position":2},"title":"CIB reports record third quarter earnings","author":"enterpriseam admin","date":"9 November 2017","format":false,"excerpt":"EARNINGS WATCH- Our friends at CIB reported record third quarter results overnight, with net income up 23% year-on-year in 3Q2017 to EGP 2.1 bn, the bank said in its earnings release (pdf). Revenues advanced 45% compared to the same period last year to close the quarter at EGP 4.2 bn.\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":628625,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/09\/cib-posts-record-first-quarter-earnings\/","url_meta":{"origin":645460,"position":3},"title":"CIB posts record first quarter earnings","author":"enterpriseam admin","date":"9 May 2018","format":false,"excerpt":"EARNINGS WATCH- CIB posts record first quarter earnings. Our friends at Egypt\u2019s largest private-sector bank delivered a 17% y-o-y rise in net income to EGP 2.0 bn in 1Q2018 on revenues of EGP 4.2 bn (up 25% y-o-y). 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