Commercial International Bank (CIB) achieved 7% growth in net profits, recording EGP 17.7 billion by the end of March 2026
Commercial International Bank (EGX: COMI) today reported first- quarter 2026 consolidated net income of EGP 17.8 billion, or EGP 4.65 per share, up by 7% from first-quarter 2025.
CIB delivered resilient financial performance in the first quarter of 2026, despite a challenging and increasingly-uncertain global backdrop. As regional uncertainty intensified with the prolongation of the US-Iran War, an upward flight in global inflation sparked, bringing all monetary easing plans across the globe to a halt.
That inevitably transmitted to the Egyptian Economy, with the Central Bank of Egypt (CBE) putting-on-hold the anticipated series of policy-rate cuts that it started last year, clearly prioritizing controlling inflation. In parallel, the Egyptian Pound witnessed a net depreciation against the US Dollar by EGP 6.9 during the quarter, as partly impacted by the strengthening of the US Dollar against other currencies, and in a testament to the genuine flexibility and shock-absorbing nature of the current exchange rate system in place. In the thick of these dynamics, S&P maintained Egypt’s sovereign rating at “B”, while still affirming a “Stable” Outlook for the Egyptian Economy.
Against the previous backdrop, CIB upheld healthy top- and bottom-line growth in the first quarter of 2026, with bottom line recording EGP 17.8 billion, growing by 7% from last year, and with top line recording EGP 31.2 billion, growing by 15%.
This was largely backed by robust balance sheet growth, in both local and foreign currencies, while simultaneously upholding margins at 8.88% which came slightly down by 24 basis points (bps) from last year, against the steep local policy- rate cuts by 825bps through the period.
The latter comes in a further testament to the resilient balance sheet structure held by CIB, with special regard to the focus placed by Management on maintaining a healthy share of Current Accounts and Saving Accounts (CASA) to Total Deposits, which increased from 56% last year to 62% this year, hence further backing margins and spreads against the decreasing interest-rate environment. This fed into a healthy Return on Average Equity (ROAE) of 31.9%, which materialized while simultaneously upholding a comfortable Capital Adequacy Ratio (CAR) of 26.9%, and with a Common Equity Tier I (CET1) Capital Ratio of 22.5%, primarily cemented by strong profitability for the quarter which came in sufficient to accommodate for the pulling-down impact of macroeconomic dynamics.
Balance sheet growth came robust across all commercial activity lines. On the local currency front, deposits grew by a decent 5% or EGP 33 billion from 2025 Year- End, and local currency loans -including securitization deals- grew by an impressive 7% or EGP 32 billion, bringing the local currency loan-to-deposit ratio to an all- time-high of 72%. On the foreign currency side, deposits grew by 2% or USD 172 million, while loans grew at a faster pace by 8% or USD 228 million, bringing the foreign currency loan-to-deposit ratio to 34%, up from 32% by 2025 Year-End, in line with the strategic direction by Management to gradually reap the low-hanging- fruits of profitable foreign currency lending.
Loan growth in the quarter came primarily backed by Institutional Banking Loans, which grew by 8% or EGP 41 billion, in real terms upon excluding the EGP Devaluation impact, inclusive of EGP 27 billion growth in CAPEX lending.
