Egypt · Delayed Price · Currency is EGP Commercial International Bank Egypt (CIB) S.A.E. Earnings Call Transcripts
Fiscal Year 2026
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9M revenue reached EGP 103bn and adjusted net income grew 18% YoY, supported by strong lending, deposits, and diversified income. 2026 guidance is unchanged except for higher 30% deposit-growth guidance; geopolitical uncertainty and rate dynamics remain key factors.
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The five-year plan targets doubled EGP profitability, ROE above 20% and ~10% market share, while shifting income toward fees and core banking. Growth comes from scaling existing franchises, building commercial and SME banking, and launching a digital bank targeting 10m customers.
Fiscal Year 2025
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FY25 revenue grew 19% and record net profit reached EGP 82.2bn, or EGP 70.6bn excluding the EGP 13.1bn provision reversal. FY26 guidance calls for 30%–35% loan growth and 15%–20% normalized profit growth, with gradual NIM pressure expected.
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9M25 profit reached EGP 62.1 billion, including a one-time EGP 13.1 billion ECL release; adjusted profit was EGP 50.5 billion. FY25 guidance includes 20%-25% loan growth and ~9% blended NIM.
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Record 1H net profit reached EGP 33.3bn, up 21% YoY, alongside 24% YTD loan growth and strong capital ratios. Guidance was unchanged, with management anticipating rate-driven margin pressure but targeting a blended NIM of 6%–6.5% as rates and inflation normalize.
Fiscal Year 2024
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9M net profit rose 89% YoY to EGP 42.3bn, supported by strong local-currency margins, lending and fees. FY2024 net profit guidance is EGP 55bn-57bn, with ECL changes likely deferred to Q1 2025.
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Revenue rose 81% YoY and net income 96%, with gross NIM at 9.52% and ROE at 52.5%. FY local-currency loan growth guidance is 25%-30%, while NIMs are expected to remain stable or edge higher.
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Q1 net income reached EGP 11.9bn, largely from core business, as FX access and lending momentum improved after devaluation. 2024 net income guidance rose to EGP 46bn, with 30%–40% local-currency loan growth targeted.
Fiscal Year 2023
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FY23 net income rose 84% to EGP 29.7bn, with blended NIM at 7.55% and ROE at 39.7%. FY24 guidance targets EGP 38bn-40bn net income, while FX-market volatility and borrower pressures remain key risks.
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H1 net income rose 81% YoY as higher NII and cost control drove 41%+ ROE. FY23 guidance was EGP 26bn net income, with record NIMs expected to hold and deposit growth capped at 30% or less.