Commercial Int Bank - 1Q26 Earnings Release

Commercial International Bank Egypt CIB

12/05/2026 10:15

RNS Number : 9517D

Commercial Intnl Bank (Egypt) SAE

12 May 2026

 

  http://www.rns-pdf.londonstockexchange.com/rns/9517D_1-2026-5-12.pdf 



 

 

#1 Private-Sector Bank in Egypt in terms of Revenues, Net Income, Deposits, Loans, and Total Assets
CIB ReportsFIRST-QUARTER 2026 CONSOLIDATED REVENUE OF EGP 31.2 BILLION AND NET INCOME OF EGP 17.8 BILLION

CAIRO - 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.
"Moving forward, and in light of the ambiguity surrounding the geopolitical, and subsequently the macroeconomic, scene, Management currently places balance sheet resilience and operating model efficiency as its top priority and first line of defense, uncompromised by profitability aspirations. Accordingly, Management focus over the coming period will be directed -more than ever- towards healthy and sustainable balance sheet growth and shareholder return maximization, for both existing and potential shareholders. As such, CIB will continue to pursue its focus on sustainable growth in commercial activities, moving beyond headline spreads to further accounting for total profitability and return on capital, while staying mindful of both, expected credit losses and the economic cost of capital associated with commercial lending. This comes while placing due focus on building the solid funding base necessary to meet growing credit demand through stable sources of liquidity that demonstrate durability over short-term transactional balances.
Capitalizing on the Bank's deep market knowledge, longstanding relationships, modern digital platform, and creative offerings, we will continue to cater to the evolving needs of households who are becoming more financially-savvy and enjoy unconventional saving havens beyond traditional retail banking, as well as institutions, who likewise have other credit sources. The competitive landscape has been changing; with the CBE managing money supply in an orderly manner and with new alternative assets such as money market funds redefining the domestic liquidity, thus resulting in a new operating reality that is expected to bring about thinner margins across the sector while growing the customer base in line with this new reality, and profitability likely tamed within normal, rather than previous-exceptional rates. For this, we are confident in our ability to be agile and adapt, as evident in navigating previous challenging cycles during the past several years, where priority was always given to sustainable rather than short-sighted profitability."

 

key highlights

 

Profitability and Efficiency

·    Net Income of EGP 17.8 billion, up 7% Year-on-Year (YoY)

·    Revenues of EGP 31.2 billion, up 15% YoY

·    Return on Average Equity (ROAE) of 31.9%

·    Return on Average Assets (ROAA) of 4.74%

·    Efficiency Ratio of 16.5%

·    Net Interest Margin (NIM)[1] of 8.88%

Balance Sheet Performance

·    Gross Loans recorded EGP 643 billion, with a Loan Market Share of 5.49%[2].

·    Deposits recorded EGP 1.21 trillion, with a Deposit Market Share of 6.95%2.

·    High quality of funding, with Customer Deposits comprising 90% of Total Liabilities

·    Loan-to-Deposit Ratio recorded 53.1% by end of first-quarter 2026.

·    Total Tier Capital recorded EGP 240 billion, or 26.9% of Risk-Weighted Assets.

·    Common Equity Tier I Capital recorded EGP 201 billion, or 84% of Total Tier Capital.

Liquidity and Funding

·    Liquidity Ratio of 51.0% in local currency and 54.5% in foreign currency, compared to CBE requirements of 20% and 25%, respectively

·    Liquidity Coverage Ratio (LCR) of 341% in local currency and 579% in foreign currency, compared to Basel III requirement of 100%

·    Net Stable Funding Ratio (NSFR) of 189% in local currency and 176% in foreign currency, compared to Basel III requirement of 100%

Asset Quality

·    Loan Loss Provision Balance of EGP 37.5 billion

·    Non-Performing Loans (NPLs)-to-Gross Loans of 1.70%

·    NPL Coverage Ratio of 344%

·    Total Gross Loan Coverage Ratio of 5.84%

·    Unsecured Gross Loan Coverage Ratio of 8.26%

Committed to our Community

·    CIB Foundation covered the operating expenses of several departments for 57357 Children Cancer Hospital.

·    CIB Foundation equipped the Pediatric Ophthalmology Unit at Minya University Hospital for medical testing.

·    CIB Foundation funded the outfitting of the Pediatric Neurosurgery Unit at Aswan University Hospital.

·    CIB Foundation funded the outfitting of the Pediatric Dental Clinics at the Faculty of Dentistry of Galala University to provide free examinations, treatments, and surgeries for children.

·    CIB Foundation funded, in collaboration with the Egyptian Clothing Bank, the manufacturing of 130 thousand winter clothing sets for school children in Sharqia, Daqahlia and Menoufia, as part of the "For Egypt" Initiative.

·    CIB Foundation sponsored, in collaboration with Ibrahim Badran Foundation, 48 comprehensive medical convoys for children in Qalyubia, as part of "For Egypt" Initiative.

Awards & Recognitions

· Global Finance:
· Best Private Bank in Egypt
· Best Bank in Egypt
· Best SME Bank in Egypt
· Top Financial Innovations in Africa
· Egypt's Best Trade Finance Providers
· Best Bank for Sustainable Finance in Egypt
· The Egyptian Exchange:
· Best Bank in Sustainable Finance-Africa 2025
· Athar Award:
· Best Practices in Sustainability and CSR
· Recognitions by Forbes Middle East
· Ranked 1st among Egypt's 50 Most Valuable Companies 2026
· Ranked 53rd among Middle East's 100 Most Valuable Companies 2026

P&L and KPIs

CONSOLIDATED P&L AND KPIs
Income Statement
1Q26
4Q25
QoQ Change
1Q25
YoY Change
EGP million
EGP million
(1Q26 vs. 4Q25)
EGP million
(1Q26 vs. 1Q25)
Net Interest Income
29,700
29,046
2%
25,396
17%
Non-Interest Income
1,528
4,704
-68%
1,643
-7%
Net Operating Income
31,227
33,750
-7%
27,039
15%
Non-Interest Expense
(5,155)
(5,129)
1%
(3,932)
31%
Total Provisions[3]
(509)
(329)
55%
(405)
26%
Net Profit before Tax
25,563
28,291
-10%
22,702
13%
Income Tax
(6,367)
(8,053)
-21%
(6,480)
-2%
Deferred Tax
(1,374)
(80)
NM
411
NM
Net Profit
17,822
20,159
-12%
16,633
7%
Non-Controlling Interest
(0.04)
19.4
NM
1.39
NM
Bank's Shareholders
17,822
20,139
-12%
16,632
7%
Financial Indicators
1Q26
4Q25
QoQ Change
1Q25
YoY Change
(1Q26 vs. 4Q25)
(1Q26 vs. 1Q25)
ROAE
31.9%
36.7%
-13%
42.8%
-26%
ROAA
4.74%
5.76%
-18%
5.37%
-12%
Cost-to-Income
16.5%
15.2%
9%
14.5%
13%
Gross Loans-to-Deposits
53.4%
52.3%
2%
42.8%
25%
NPLs-to-Gross Loans
1.73%
1.71%
1%
3.14%
-45%
Capital Adequacy Ratio
26.9%
27.3%
-1%
26.8%
0%
STANDALONE P&L AND KPIs
Income Statement
1Q26
4Q25
QoQ Change
1Q25
YoY Change
EGP million
EGP million
(1Q26 vs. 4Q25)
EGP million
(1Q26 vs. 1Q25)
Net Interest Income
29,529
28,865
2%
25,296
17%
Non-Interest Income
1,361
3,806
-64%
1,537
-11%
Net Operating Income
30,890
32,671
-5%
26,833
15%
Non-Interest Expense
(4,972)
(4,959)
0%
(3,749)
33%
Total Provisions3
(458)
(249)
84%
(386)
19%
Net Profit before Tax
25,461
27,463
-7%
22,699
12%
Income Tax
(6,305)
(8,052)
-22%
(6,514)
-3%
Deferred Tax
(1,418)
191
NM
411
NM
Net Profit
17,738
19,602
-10%
16,596
7%
Financial Indicators
1Q26
4Q25
QoQ Change
1Q25
YoY Change
(1Q26 vs. 4Q25)
(1Q26 vs. 1Q25)
ROAE
31.9%
35.9%
-11%
43.0%
-26%
ROAA
4.74%
5.63%
-16%
5.38%
-12%
NIM[4]
8.88%
9.03%
-2%
9.13%
-3%
Cost-to-Income
16.1%
15.2%
6%
14.0%
15%
Gross Loans-to-Deposits
53.1%
52.1%
2%
42.7%
24%
NPLs-to-Gross Loans
1.70%
1.67%
1%
3.07%
-45%
Direct Coverage Ratio
344%
358%
-4%
337%
2%

FIRST-QUARTER 2026 KEY P&L HIGHLIGHTS

·    REVENUES

First-Quarter 2026 Standalone Revenues were EGP 30.9 billion, up 15% from first-quarter 2025, on the back of 17% increase in Net Interest Income, while Non-Interest Income came lower by 11%.

·    NET INTEREST INCOME     

First-Quarter 2026 Standalone Net Interest Income recorded EGP 29.5 billion, increasing by 17% YoY, generated at 8.88% Total NIM4, with Local Currency NIM4 recording 12.7%, coming 56bps lower YoY, and Foreign Currency NIM4 recording 2.18%, decreasing by 64bps YoY.

·    NON-INTEREST INCOME

First-Quarter 2026 Standalone Non-Interest Income recorded EGP 1.36 billion, coming 11% lower YoY, mainly on non-recurring "Profits from Selling Shares of Associates" in first-quarter 2025, which upon normalizing-for, Non-Interest Income came flat YoY. Trade Service Fees recorded EGP 852 million, coming in flat YoY, with outstanding balance of EGP 358 billion[5].

·    OPERATING EXPENSE

First-Quarter 2026 Standalone Operating Expense recorded EGP 4.97 billion, up 33% YoY, largely on technology-related expenses and contract renewals, impacted by global inflationary pressures. Cost-to-Income reported 16.1%, coming 212bps higher YoY, yet remaining comfortably below the desirable level of 30%.

 

 

BALANCE SHEEt

 

CONSOLIDATED BALANCE SHEET
STANDALONE BALANCE SHEET
Cash and Balances at The Central Bank
92,011
88,876
4%
91,223
88,095
4%
Due from Banks
170,847
135,237
26%
171,465
136,582
26%
Net Loans and Advances
606,906
542,395
12%
601,088
537,802
12%
Derivative Financial Instruments
515
620
-17%
515
620
-17%
Financial Investments
641,409
613,070
5%
639,059
609,866
5%
Investments in Associates and Subsidiaries
44
45
-3%
1,257
1,157
9%
Other Assets
56,535
62,251
-9%
56,188
62,031
-9%
Total Assets
1,568,268
1,442,494
9%
1,560,795
1,436,153
9%
Due to Banks
14,240
3,354
325%
14,337
3,797
278%
Customer Deposits
1,214,998
1,110,396
9%
1,210,059
1,105,356
9%
Other Liabilities
122,857
97,230
26%
122,160
96,986
26%
Total Liabilities
1,352,095
1,210,980
12%
1,346,556
1,206,138
12%
Shareholders' Equity & Net Profit
216,145
231,486
-7%
214,239
230,015
-7%
Non-Controlling Interest
28
28
0%
0
0
NM
Total Liabilities & Shareholders' Equity
1,568,268
1,442,494
9%
1,560,795
1,436,153
9%

 

FIRST-QUARTER 2026 KEY BALANCE SHEET HIGHLIGHTS

·    LOANS

Gross Loan Portfolio recorded EGP 643 billion, growing by 12% throughout first-quarter 2026, with real growth of 8% or EGP 47.0 billion net of the EGP Devaluation impact, with Local Currency Loans increasing by 8% or EGP 34.6 billion, together with Foreign Currency Loans increasing by 8% or USD 228 million. CIB's Loan Market Share recorded 5.49% as of December 2025.

·    DEPOSITS

Deposits recorded EGP 1.21 trillion, growing by 9% throughout first-quarter 2026, with real growth of 4% or EGP 42.6 billion net of the EGP Devaluation impact, with Local Currency Deposits increasing by 5% or EGP 33.3 billion, together with Foreign Currency Deposits adding 2% or USD 172 million. CIB's Deposit Market Share recorded 6.95% as of December 2025.

 

key BUSINESS UPDATES

·    INSTITUTIONAL BANKING

·      Gross Loans recorded EGP 530 billion, with real growth of 8% or EGP 41 billion net of the EGP Devaluation impact, of which EGP 27 billion came in CAPEX lending.

·      Lending growth was primarily driven by Transportation and Real Estate.

·      CIB Corporate Loan Market Share stood at 5.0% as of December 2025, with Private Corporate Loan Market Share recording 10.6%.

·      Deposits recorded EGP 369 billion, with modest real growth of 0.4% or EGP 1.5 billion net of the EGP Devaluation impact.

·      CIB Corporate Deposit Market Share stood at 7.0% as of December 2025.

·      Gross Outstanding Contingent Business recorded EGP 368 billion.

·    BUSINESS BANKING

·      Gross Loans recorded EGP 17 billion, with real growth of 7% or EGP 1.2 billion net of the EGP Devaluation impact.

·      Funding to Small-and-Medium-Sized-Enterprises (SMEs) of 29%; exceeding the 25% required minimum stipulated by CBE

·      Deposits recorded EGP 122 billion, with real growth of 1% or EGP 1.0 billion net of the EGP Devaluation impact and of portfolio upgrades.

·      Clients upgraded from Business Banking to Institutional Banking recorded a net of 66 Clients, with EGP 4.62 billion worth of Deposits.

·      Gross Outstanding Contingent Business recorded EGP 7.58 billion.

·      First-Quarter 2026 Major Milestones:

o  Launch of "CIB Business", the first Mobile App exclusively designed for Business Banking Customers

o  Introduction of "Export Bundle", featuring strategic partnerships to support exporters and offering a comprehensive solution to key challenges such as limited business opportunities, proceed-collection risks, and restricted access to finance, as part of the sub‑segmentation focus in the Bank's 5-Year Strategy

 

 

 

·    RETAIL INDIVIDUALS BANKING

·      Gross Loans recorded EGP 96 billion, with real growth of 5% or EGP 4.8 billion net of the EGP Devaluation impact, primarily driven by Personal Loans and Credit Cards.

·      CIB Household Loan Market Share stood at 6.5% as of December 2025.

·      Deposits recorded EGP 719 billion, with real growth of 6% or EGP 40 billion net of the EGP Devaluation impact, driven mainly by CASA and CDs with strong contribution from the Private and Wealth segments.

·      CIB Household Deposit Market Share stood at 6.9% as of December 2025.

·      CIB continued to expand and strengthen its nationwide presence, reaching 204 branches and 10 units across Egypt, supported by a network of 1,451 ATMs, reinforcing the Bank's commitment to scalable growth, accessibility, and customer experience excellence.

·      First-Quarter 2026 Major Milestones:

o  Credit Cards continued to witness strong momentum in first-quarter 2026, with CIB further strengthening its cards proposition through the launch and scaling of the "Explore Credit Card", contributing to the transformation of the travel cards landscape in Egypt.

o  CIB further strengthened its long-standing partnership with Mastercard through a renewed 10-year strategic collaboration, reflecting shared ambitions to accelerate innovation, customer engagement, and the transformation of the consumer banking and payments landscape.

o  CIB continued to expand its strategic partnerships ecosystem to strengthen customer offerings, deepen engagement, and drive scalable growth across priority customer segments.

o  The Insurance Business continued to deliver strong growth during the quarter, supported by the Bank's continued focus on customer protection and expansion of fee income streams.

·    DIGITAL BANKING

·      Online Digital Banking Platforms served more than 2.1 million users by end of first-quarter 2026, up by 18% YoY.

·      Online Digital Banking Transaction Value recorded c. EGP 1.7 trillion across all of the Bank's Digital Platforms, up by 52% YoY.

·      Digital Acquisition Rate for CDs through the Bank's Online Channels recorded 90%.

·      Number of New-to-Bank (NTB) Customers recorded c.100 thousand during first-quarter 2026, up by 26% YoY, supported by the Bank's Digital Infrastructure, with an increase in NTB Digital Registration Rate by 12% YoY.

[1] Based on standalone managerial accounts

[2] As of December 2025; latest available CBE data at time of publishing

[3] Total Provisions include "Release (charges) for ECL" and "Release (charges) of other provisions", reported under "Other operating income (expenses)".

[4] NIM based on managerial accounts

[5] Net of Collateral, Gross of Provisions

[6]  1) Loan, Deposit, and Outstanding Contingent Balances are based on managerial accounts. 2) Outstanding Contingent Balances are gross of collateral and provisions.

   3) Market Share Data is as of December 2025, latest available CBE Data at time of publishing.

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