Commercial International Bank Egypt CIB S A E (COMI) Q2 2025 earnings summary

Executive summary

• H1 revenue reached EGP 54.87bn, up 18% YoY, and net profit was EGP 33.346bn, up 21%; Q2 revenue was EGP 27.8bn and net income EGP 16.713bn.

• H1 ROE was 40.5%, with a 14.4% cost-to-income ratio; management kept full-year guidance unchanged.

• Strategic priorities include quality loan growth, household deposits, SME financing, digital services, operational efficiency and sustainable finance.

Financial highlights

• H1 net interest income rose 24% to EGP 51.335bn; reported non-interest income fell 28% to EGP 3.535bn, partly reflecting exceptional FX income in H1 2024.

• Normalized non-interest income grew 21%; net fees and commissions rose 22%, with loan fees up 42%.

• Expenses increased 35% in reported results; management cited normalized expense growth of 16% against normalized revenue growth of 18%.

• H1 consolidated provisions were EGP 695m versus EGP 2.24bn in H1 2024, primarily reflecting recalibrated ECL calculations.

Outlook and guidance

• Full-year guidance remained unchanged; management anticipates rate-driven margin pressure and expects ECL to remain stable through year-end.

• Management expects 300–400 bps of rate cuts through year-end; with single-digit rates and inflation, blended NIM is targeted at 6%–6.5%.

• Trading income is expected to remain near budget and 1H levels; expansionary CapEx lending is expected to emerge in 2026 as conditions become clearer.

• Priorities include quality lending, household deposits, transactional banking, SME financing and developing CIB Kenya as a trade-finance hub.