Commercial International Bank Egypt CIB S A E (COMI) Q3 2026 earnings summary

Executive summary

• 9M26 consolidated revenue was EGP 103bn, up 23% YoY; net income was EGP 63,079,356 thousand, up 2%, while normalized net income grew 18%.

• Total assets reached EGP 1.83tn; deposits were EGP 1.45tn and gross loans EGP 705bn, supported by strong capital and asset-quality buffers.

Financial highlights

• Reported top line was EGP 83.683bn, up 23% YoY; normalized top line was EGP 100.615bn, up 20%.

• Net interest income rose 19% to EGP 93.3bn; normalized non-interest income grew 46%, with sustainable fees and commissions up 43%.

• Q3 net income was EGP 23.8bn, down 17% YoY but up 11% QoQ; the Q3 ECL release was EGP 1.62bn versus EGP 7.63bn a year earlier.

• 9M26 included EGP 3.4bn in after-tax one-off benefits; 9M25 included an exceptional EGP 11.7bn after-tax ECL recalibration release.

• Reported 9M NIM was 8.40%, down from 8.93%; margin compression was 53bps following 600bps of policy-rate cuts.

Outlook and guidance

• 2026 normalized net income growth guidance remains 15%-17%; blended loan growth is 20%-25%, including 25%-30% local-currency growth and low-teens foreign-currency growth.

• Deposit growth guidance rose to 30%, with 50%-60% of growth expected from CASA; full-year NIM compression guidance remains 60-70bps.

• ROE guidance is 33%-35% and cost-of-risk guidance 0.5%-0.7%; preliminary 2027 loan-growth assumption is 15%-20%, potentially up to 25%, subject to budgeting and demand.

• Long-term priorities include growing core banking, reaching 7%-10% market share and ~5mn customers by 2030, expanding digital sales and modernizing technology and operations.