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MENA FN: Banks continue to shine with strong business results in 9M18

The bank's management attributed these strong results to the bank's resilience, at a time of macroeconomic uncertainty.
20.11.18 | Interesting article at MENA FN

The financial results of the Commercial International Bank (CIB - Egypt) reflected profits of EGP 7.019bn between January and September 2018 against EGP 5.67bn of profits during the 9M17, marking a growth of 24%.

The bank's management attributed these strong results to the bank's resilience, at a time of macroeconomic uncertainty, especially in the wake of the sales surge in emerging markets (EM).
It explained that this upsurge was supported by a large growth in deposits in local currency, which increased by about EGP 29bn between January to the end of September 2018, and increased by EGP 14bn in the third quarter of 2018 alone.

The bank's results also revealed a high capital adequacy ratio at 19.1% in 9M18.
Al Ahli Bank of Kuwait-Egypt