Cairo – Mubasher: The Commercial International Bank-Egypt (CIB) inked an agreement with the International Finance Corporation (IFC) for a loan facility totalling $150 million.
The Tier II capital has a maturity period of 10 years and aligns with the lender’s proactive capital management strategy, according to a bourse disclosure.
The agreement highlights IFC's ongoing commitment to the Egyptian financial sector.
In the first half (H1) of 2024, CIB logged consolidated net profits valued at EGP 27.54 billion, compared to EGP 14.05 billion in H1-23.
Net interest income jumped to EGP 41.53 billion as of 30 June 2024 from EGP 23.89 billion a year earlier, while the basic earnings per share (EPS) hiked to EGP 8.08 from EGP 4.16.
Last September, the EGX-listed lender and Banque Misr granted EGP 4.14 billion syndicated facility to Six of October Development and Investment (SODIC).
