Cairo – Mubasher: Commercial International Bank’s (CIB) syndicated lending increased EGP 2.6 billion or 9.7% during the first quarter of 2018.
CIB’s syndicated loans amounted to EGP 29.2 billion in Q1-18, compared to EGP 26.6 billion in the same quarter a year earlier.
The bank is currently discussing to enter in some syndicated loans in the fertilisers and oil sectors, sources told Al Shorouk newspaper.
The bank's real estate finance portfolio rose more than EGP 30 million, registering EGP 549 million by the end of March 2018, compared to EGP 416 million by the end of same month in 2017.
Total amount of individual loans hit EGP 20 billion in Q1-18, versus EGP 19 billion in the same three months in the year before.
CIB’s investments in governmental debt instruments amounted to EGP 45.9 billion by the end of March 2018, compared to EGP 54.4 billion in the comparative period of 2017.
Deposits jumped 13% or EGP 5.4 billion to hit EGP 256.1 billion in Q1-18, compared to EGP 250.7 billion by the end of December 2017.
CIB’s consolidated financial statements showed a 15% growth, reaching EGP 2.02 in the first three-month period of 2018, up from EGP 1.7 billion in the prior-year period.
