“International Commercial Bank Records 43% Increase in First Quarter Earnings in Egypt”

Combined earnings went up of the International Commercial Bank During the first quarter of this year, by about 43%, recording about 6.06 billion pounds, and the bank’s revenues amounted to about 12 billion pounds, with a growth of 54% compared to the same quarter of last year.

According to a disclosure sent to the Egyptian Stock Exchange, customer deposits increased by about 8.5% at the end of last March, recording more than 576.8 billion pounds, compared to about 531.6 billion pounds at the end of last December.

The bank’s loans and facilities granted to customers amounted to about 213 billion pounds at the end of March, compared to 193 billion pounds at the end of December.

Basic earnings per share rose to 1.81 pounds for the first quarter of the year, compared to 1.26 pounds for the comparative quarter.