Commercial International Bank (CIB) reported consolidated net income of EGP 63.1bn, equivalent to EGP 16.7 per share, for the first nine months of 2026, marking a 2% increase year-on-year (YoY), despite an exceptional EGP 13.1bn provision release recorded in the third quarter of 2025 following the recalibration of the bank’s Expected Credit Loss (ECL) model.
The bank’s consolidated revenue reached EGP 103bn during the period, reflecting its sustained business expansion and the resilience of its core operating performance amid ongoing global uncertainties.
CIB said its results demonstrated the strength of its balance sheet, sound asset quality, and earnings-generating capacity, enabling it to deliver sustainable returns to shareholders despite challenging operating conditions.
The bank also highlighted the resilience of the Egyptian economy amid regional and global uncertainties, attributing it largely to the flexibility of the exchange rate regime. This resilience was also reflected in Moody’s Ratings’ recent upgrade of Egypt’s credit rating while maintaining a positive outlook.
CIB noted that the third quarter of 2026 also included two non-recurring items: a reversal of EGP 2bn in regulatory expenses and a provision release of EGP 2.1bn related to the repayment of a single corporate client. Together, these contributed a net EGP 3.4bn, after tax, to the bank’s nine-month net income.
Excluding the impact of these exceptional items, underlying net income growth reached 18% YoY, equivalent to 9% in US dollar terms.
Earnings growth was primarily supported by strong performance across sustainable revenue streams, with normalised top-line growth reaching 20% YoY, driven by continued business expansion and proactive liquidity management.
Combined with disciplined expense controls, this performance generated a healthy Return on Average Equity (ROAE) of 34.3%, while maintaining a comfortable Capital Adequacy Ratio (CAR) of 28.8%, including a Common Equity Tier I (CET1) capital ratio of 25.3%.
Deposits, lending support balance sheet growth
CIB maintained strong balance sheet momentum, with local currency deposits increasing by EGP 110bn in the third quarter of 2026, representing approximately 40% of the EGP 284bn in net additions recorded during the first nine months of the year.
Of the total local currency deposit growth, EGP 198bn, or 70%, came from Current Accounts and Savings Accounts (CASA).
Consequently, CASA deposits accounted for 63% of total deposits, unchanged from the previous quarter but up from 60% a year earlier. This helped preserve the bank’s margins, which declined by just 53 basis points despite cumulative policy rate cuts of 600 basis points over the preceding year.
The performance supported 19% YoY growth in net interest income, despite persistent competition for local currency funding within and beyond Egypt’s banking sector.
Lending activity also maintained its upward momentum, with the bank’s loan and securitisation portfolio expanding by EGP 111bn during the first nine months of 2026, in real terms after adjusting for the impact of the Egyptian pound’s devaluation.
Meanwhile, contingent business grew by 19%, adding EGP 58bn, contributing to a 46% increase in non-interest income on a normalised basis. This was supported by 43% growth in sustainable non-interest revenue, particularly fees and commissions.
Net fee and commission income accounted for 9% of the bank’s top line during the nine-month period, up from 8% a year earlier. This reflects management’s strategy to gradually increase the contribution of sustainable non-interest income to total revenues, particularly amid expectations of a delayed easing in monetary conditions.
Expense management also remained a key driver of profitability, with the bank’s Cost-to-Income ratio standing at 15.6%.
This was achieved despite global inflationary pressures on the bank’s expense base, particularly those associated with renewing contracts for technological infrastructure and implementing digital transformation initiatives.
Digital transformation drives customer acquisition
CIB’s management said the bank’s financial performance reflected the efficiency of its operating model, adding that increased investment in technology was gradually translating into enhanced digital banking capabilities.
These improvements include new customer-focused features, such as enhanced credit card controls, a redesigned funds transfer process, and additional self-service functionalities aimed at providing customers with a more seamless banking experience.
The bank attracted 380,000 new-to-bank (NTB) customers during the first nine months of 2026, with 40% joining in the third quarter alone, compared with 280,000 new customers during the same period last year.
This expansion was supported by the bank’s evolving digital infrastructure, which helped increase the volume and value of digital transactions by 17% and 54%, respectively, YoY.
By the end of September 2026, CIB was serving more than 2.3 million users through its online banking platforms. The NTB digital registration rate also increased by 20% to reach 80% during the nine-month period, while more than 90% of Consumer Banking financial transactions were conducted through the bank’s mobile application.
The bank’s card business also continued to expand, with more than 169,000 credit cards issued since the beginning of 2026. Growth was largely driven by CIB EXPLORE, which surpassed 150,000 cards, alongside co-branded cards that expanded the bank’s presence in everyday digital spending.
As a result, CIB’s credit card portfolio grew by 24% during the first nine months of 2026.
CIB advances plans for yomo Digital Bank
During the third quarter of 2026, CIB received preliminary regulatory approval to establish yomo Digital Bank through yomo Holding Limited.
The bank plans to invest $300m in the venture, of which $162m had already been recognised as a subsidiary investment in CIB’s financial position as of September 2026.
The approval represents an important milestone in preparing for the next phase of operational, technological, and customer readiness ahead of the launch of yomo’s services, subject to obtaining final regulatory approval.
CIB’s management expressed confidence in the bank’s ability to navigate market fluctuations and evolving economic conditions, particularly amid continuing geopolitical uncertainty, while remaining committed to protecting and creating value for shareholders.
Nine-month financial and operating indicators
On a standalone basis, CIB’s net interest income reached EGP 92.7bn during the first nine months of 2026, increasing by 18% YoY, with a total Net Interest Margin (NIM) of 8.40%.
Local currency NIM stood at 11.8%, down 120 basis points YoY, while foreign currency NIM reached 2.17%, declining by 42 basis points.
Standalone non-interest income increased by 79% YoY to EGP 8.88bn. Trade service fees reached EGP 2.87bn, up 8% YoY, while the outstanding balance of trade services stood at EGP 355bn.
Standalone operating expenses rose by 29% YoY to EGP 15.4bn, largely reflecting higher technology-related spending and contract renewals amid global inflationary pressures. The Cost-to-Income ratio reached 15.1%, increasing by 88 basis points YoY but remaining comfortably below the bank’s preferred threshold of 30%.
The gross loan portfolio reached EGP 705bn, growing by 22% during the first nine months of 2026. Adjusting for the impact of the Egyptian pound’s devaluation, real growth stood at 20%, equivalent to EGP 116bn.
Local currency loans increased by 21%, or EGP 93.7bn, while foreign currency loans grew by 15%, equivalent to $439m. CIB’s loan market share stood at 5.76% as of June 2026.
Deposits reached EGP 1.45trn, increasing by 31% during the nine-month period. Excluding the impact of the Egyptian pound’s devaluation, real growth stood at 27%, equivalent to EGP 308bn.
Local currency deposits increased by 42%, or EGP 284bn, while foreign currency deposits grew by 5%, adding $461m. CIB’s deposit market share reached 7.62% as of June 2026.
