Hisham Ezz Al-Arab Expects Inflation in Egypt to Decline to 13% by the End of 2025

Hisham Ezz Al-Arab, CEO of Commercial International Bank (CIB), confirmed that the bank plans to distribute cash dividends to shareholders for 2024 at a rate of EGP 2.5 per share.

In an interview with "Al Arabiya Business," Ezz Al-Arab stated that inflation in Egypt is expected to decline to 15% in April and could further drop to 13% by the end of the year.

He explained that exchange rate fluctuations contributed to the bank's profit growth, but the primary driver was a 27% increase in the loan portfolio.

Strong Financial Performance in 2024

CIB’s consolidated financial statements revealed an 86.24% year-on-year increase in net profits for 2024.

In a statement released on Wednesday, the bank reported a net profit of EGP 55.25 billion in 2024, compared to EGP 29.67 billion in 2023, taking minority interests into account.

CIB’s net interest income surged to EGP 91.06 billion in 2024, up from EGP 52.92 billion in 2023.

On a standalone basis, the bank’s net profit rose to EGP 55.43 billion in 2024, compared to EGP 28.76 billion in 2023.