reports
CIB bought Citigroup’s retail banking business in Egypt
In Q1 2015, CIB released figures in improvement. The NBI increased by 34.7% to EGP2.559bn, yoy. The cost of risk jumped by 128.3% to EGP420.898M, yoy, because of a stricter provisioning policy. However, the bank managed to improve its net result by 37.6% to EGP1.108bn, compared to Q1 2014. 46.6% (EGP516.274M) of the net result came from Retail Banking. Thus, Corporate and Investment Banking contribute 53.4% (EGP591.892M), i.e. a 15.0% decrease compared to 2014 (EGP696.516M in Q1 2014).
Always forward…
CIB released figures in Q1 2015 in improvement. The NBI increased by 34.7% to EGP2.559bn, yoy. The cost of risk jumped by 128.3% to EGP420.898M, yoy, because of stricter provisioning policy. However, the bank managed to improve its net result by 37.6% to EGP1.108bn, compared to Q1 2014. 46.6% (EGP516.274M) of net result came from retail banking. Thus, corporate and investment banking contributes 53.4% (EGP591.892M), which recorded a 15.0% decrease compared to 2014 (EGP696.516M in Q1 2014).
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.