Egypt’s CIB posts record full-2013 revenue
Egypt’s largest-listed lender, Commercial International Bank (CIB), has reported a 29% jump in fourth-quarter net profit to EGP757m ($109m), Reuters has reported. Revenues for the quarter rose 15% to EGP1.74bn. CIB posted a 35% rise in net profit for the full year in 2013 to EGP3bn, compared with EGP2.2bn a year earlier. The lender posted a 31% year-on-year jump in full-year revenue to a record EGP6.98bn.