Egypt's CIB bank Q1 net profit up 38 pct year-on-year

Egypt's largest private sector bank, Commercial International Bank (CIB), on Wednesday reported a 38 percent rise in first quarter net profits compared to the same period last year.

It said its quarterly earnings were 1.11 billion Egyptian pounds ($145.31 million), up from 805 million in the same period last year. Revenues for the quarter rose 47 percent to 2.584 billion pounds.