The Commercial International Bank (CIB) reported a resilient financial performance for the first half (H1) of 2026, posting consolidated net profit of EGP 39.3bn, or EGP 10.2 per share, up 18% from the same period last year, despite heightened geopolitical tensions and global economic uncertainty during the first quarter.
The bank said its second-quarter performance reflected the resilience of the Egyptian economy, supported by easing inflation and a stronger Egyptian pound, which appreciated by EGP 5.37 against the US dollar during the period.
CIB recorded second-quarter net profit of EGP 21.5bn, up 21% from the first quarter and 29% year-on-year, driven by robust revenue growth. Top-line income increased by 10% quarter-on-quarter and 23% annually. For the first half of 2026, total revenues rose 20% year-on-year, while net profit increased by 19% in US dollar terms.
The strong financial performance was underpinned by accelerated balance sheet expansion, particularly in local currency. Local currency deposits grew by EGP 141bn, or 20%, during the second quarter, with 75% of the increase—equivalent to EGP 106bn—coming from current and savings accounts (CASA), marking the highest quarterly local currency deposit inflows in the bank’s history.
CIB said the achievement came despite intensifying competition across the Egyptian banking sector, underscoring management’s continued focus on building a stable and diversified funding base capable of supporting future lending growth while maintaining balance sheet resilience.
Net interest margins narrowed by only 35 basis points from a year earlier, despite cumulative Central Bank of Egypt policy rate cuts of 500 basis points during the year. The impact was largely mitigated by the bank’s strong funding mix, with CASA deposits accounting for 63% of total deposits, up from 62% in the previous quarter and 59% a year earlier.
The bank continued expanding financing to businesses and individuals, with local currency loans, including securitisation transactions, rising by EGP 45bn, or 9%, during the quarter. Foreign currency loans also increased by $188m, or 6%.
Corporate lending remained the primary driver of loan growth. Excluding the impact of the stronger Egyptian pound, corporate loans increased by EGP 46bn, including EGP 37bn in capital expenditure financing.
CIB also continued supporting small and medium-sized enterprises (SMEs), with SME lending exceeding 30% of its total loan portfolio, well above the Central Bank of Egypt’s minimum requirement of 25%.
The local currency loan-to-deposit ratio stood at a healthy 65%, while the foreign currency loan-to-deposit ratio rose to 36%, up from 34% in the previous quarter and 32% at the end of 2025, reflecting management’s strategy to gradually expand profitable foreign currency lending.
The lending growth also supported a strong increase in non-interest income. Net fee and commission income reached EGP 3.6bn in the second quarter, up 62% from the previous quarter, while first-half fee income climbed 40% year-on-year to EGP 5.8bn.
CIB delivered a return on average equity (ROAE) of 33.5% during the first half while maintaining a capital adequacy ratio (CAR) of 28.4% and a Common Equity Tier 1 (CET1) ratio of 24.4%, highlighting the bank’s ability to sustain strong profitability alongside prudent capital management.
Commenting on the results, management said the record deposit growth reflected CIB’s strong brand equity and customer-focused strategy, noting that the bank achieved the performance without offering the highest deposit rates in the market.
The number of new-to-bank (NTB) customers rose 26% quarter-on-quarter to 127,000 in the second quarter from 100,000 in the first quarter. On a half-year basis, NTB customers increased 35% year-on-year to 227,000.
Management attributed part of this growth to the bank’s continued investment in digital banking. During the quarter, CIB launched “CIB Business,” the Egyptian market’s first mobile banking application dedicated exclusively to business banking customers.
Digital transaction volumes increased 15% year-on-year, while transaction values surged 55%. By the end of the first half, the bank was serving 2.2 million online banking users, with the digital registration rate for new customers rising 21% to reach 83%.
The bank also expanded its strategic partnerships and customer ecosystem, helping drive growth in its card business. Credit card issuance increased 25% year-on-year to 104,000 cards during the first half of 2026.
CIB continued introducing new savings, deposit and financing products, including floating-rate certificates of deposit (CDs), offering customers a high but variable return while helping the bank protect its margins in a changing interest rate environment.
Looking ahead, management said the bank remains committed to strengthening balance sheet resilience, improving operational efficiency, delivering sustainable business growth, enhancing customer experience, and maximising shareholder returns.
