The Commercial International Bank (CIB) has allocated provisions worth EGP 266 million in the first quarter of 2013, compared to EGP 17 million at the end of the first quarter of 2012.
This came as a result of the increase in non-performing loans which accounted for 3.97% of the total value of loan portfolio which reached EGP 42.8 billion at the end of last March, compared to EGP 2.91% at the end of March, 2012.
The bank’s consolidated financial statements showed that the expenses-to-revenue ratio fell 11.36% to reach 27.94% at the end of last March, compared to 31.52% at the end of March, 2012.
CIB’s loan portfolio surged 3.06% as compared with December 2012 to reach EGP 42.8 billion at the end of the first quarter of 2013 and the deposit portfolio rose 9.28% as compared with last December to reach EGP 86.1 billion.
The loan-to-deposit ratio reached 53.03% and the bank holds 8.68% and 7.20% of loan and deposit markets, respectively.
CIB reported net profit of EGP 655.1 at the end of last March, compared to EGP 512.577 million at the end of March, 2012.
