Com.int.bk.regs Regulatory News (CBKD)

8 Aug 2007 07:00

Commercial Intnl Bank (Egypt) SAE08 August 2007 PRESS RELEASE CIB's bottom line profits rose by 67% year on year (YoY) to record LE 647million. The growth came as a result of 25% increase in normalized operating revenues, aone-time capital gain of LE 148 million associated with the merger transactioninvolving CI Capital Holding, the bank's investment banking subsidiary, and a 9%decline in Administrative and Personnel cost, from LE 268 million in June 2006to LE 243 million in June 2007. Key to the growth in Operational Revenues was the success of the bank's strategyto focus on Non-Interest Income which grew by 44% YoY to record LE 368 million. Accordingly, half-year Earning Per Share (EPS) grew to LE 3.32 up from LE 2.29in 2006. Total Assets grew by 8.6% during the first half of 2007 to reach LE 40.6 bln,while Net Loans rose by 13% to reach LE 19.7 bln, representing 48.6% of totalAssets. Consequently, Net Loans / Total Deposits rose from 53.2% to 55.1% for the first6 months of the year. Portfolio quality is maintained as NPLs represent 3.32% of the Total Loans, withCoverage reaching 187%. Paste the following link into your web browser to download the PDF document related to this announcement: http://www.rns-pdf.londonstockexchange.com/rns/6951b_-2007-8-7.pdf This information is provided by RNS The company news service from the London Stock Exchange