August 13th, 2008
1H08 Results: Some One-Offs but Core Banking Income Remains Strong

Low Cost of Funding Leads to Outstanding Net Interest Income

May 15th, 2008
1Q08 Results: Operational Performance Surprises on the Upside Impressive Net Interest Income Growth
CIB's net interest income (NII) grew at quite an astonishing 62.7% YoY to EGP415.3 million. NII came in almost 10.6% above our expectations, and at a marked improvement of 19.3% from 4Q07. We attribute the growth to: (i) a 43.7% YoY increase in interest from loans and dues from banks as interbank deposits grew 3.2x YoY to reach EGP20.0 billion and gross loans grew by 23.5% YoY to EGP24.9 billion; and (ii) a mild advance in interest expense of 4.0% YoY in spite of a high growth in deposits of 49.5% YoY. These two items together smoothed the effect of falling yields in the local treasuries market that led to a decline in interest from T-bills and bonds of 41.9% YoY.

Summary

A Possible Merger with AAIB
CIB and Arab African International Bank (AAIB) agreed to exchange confidential information on an exclusive basis that could lead to a possible merger.

"CIB-Algeria"
CIB's Algerian subsidiary, which was established as a joint venture with the Sawiris family, is to begin operations during 2008 as soon as the local authorities grant final license approval.

May 14 2007 

Commercial International Bank: 1Q07 Results: Standing on Solid Ground