Recent Research

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  FIRST LOOK NOTES

  28 Jul 2026

  Commercial International Bank ...

  HOLD

  Last Closing Price

  EGP 140.00

  Target Price

  EGP 150.00

  Upside (%)

  +7.14%

  Egypt Equity Research - Commercial International Bank - (COMI) - 2Q26 First Look Note

  Net advances increased 43.5% YOY and 6.5% QOQ to EGP 646.2 Bn in 2Q26, supported by growth in local and foreign currency loans. Customer deposits grew 25.2% YOY and 7.7% QOQ to EGP 1,308.6 Bn in 2Q26, accounting for 90.2% of the Bank’s total liabilities in 2Q26.

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• 

  FIRST LOOK NOTES

  26 Feb 2026

  Commercial International Bank ...

  HOLD

  Last Closing Price

  EGP 132.00

  Target Price

  EGP 136.50

  Upside (%)

  +3.41%

  Egypt Equity Research - Commercial International Bank - Egypt (COMI) - 4Q25 First Look Note

  Net advances expanded 53.6% YOY and 12.4% QOQ to EGP 542.4 Bn in 4Q25, due to increase in local and foreign currency loans. Customer deposits rose 14.2% YOY and 6.0% QOQ to EGP 1,110.4 Bn in 4Q25 and accounted for 91.7% of the total liabilities in 4Q25.

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• 

  FIRST LOOK NOTES

  07 Nov 2025

  Commercial International Bank ...

  BUY

  Last Closing Price

  EGP 109.45

  Target Price

  EGP 129.50

  Upside (%)

  +18.32%

  Egypt Equity Research - Commercial International Bank - Egypt (COMI) 3Q25 - First Look Note

  The Company released one-off provisions of EGP 13.1 Bn in 3Q25, including EGP 8 Bn in loan loss and EGP 5 Bn in contingent provisions for off-balance-sheet exposures. Net advances expanded 57.0% YOY and 7.1% QOQ to EGP 482.6 Bn in 3Q25. Customer deposit increased 16.3% YOY and 0.2% QOQ to EGP 1,047.5 Bn in 3Q25.

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• 

  FIRST LOOK NOTES

  08 Aug 2025

  Commercial International Bank ...

  BUY

  Last Closing Price

  EGP 100.00

  Target Price

  EGP 115.00

  Upside (%)

  +15.00%

  Egypt Equity Research - Commercial International Bank (CIB) 2Q25 - First Look Note

  Net advances expanded 56.6% YOY and 18.4% QOQ to EGP 450.4 Bn in 2Q25. Total deposit increased 21.3% YOY and 4.5% QOQ to EGP 1,045.3 Bn, with retail and corporate Deposits expanding 22% and 21%, respectively, during 2Q25.

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• 

  FIRST LOOK NOTES

  20 May 2025

  Commercial International Bank ...

  BUY

  Last Closing Price

  EGP 80.00

  Target Price

  EGP 110.00

  Upside (%)

  +37.50%

  Egypt Equity Research - Commercial International Bank - Egypt (CIB) 1Q25 - First Look Note

  Net advances grew 40.0% YOY and 7.7% QOQ to EGP 380.4 Bn in 1Q25. The Bank's asset quality strengthened as the NPL ratio improved from 3.3% in 4Q24 to 3.1% in 1Q25, owing to the ability to effectively reduce risk. Capitalization improved with a reported CAR of 26.8% in 1Q25 compared to 24.1% in 4Q24.

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• 

  FIRST LOOK NOTES

  07 Mar 2025

  Commercial International Bank ...

  BUY

  Last Closing Price

  EGP 77.50

  Target Price

  EGP 110.00

  Upside (%)

  +41.94%

  Egypt Equity Research - Commercial Bank International (COMI) 4Q24 - First Look Note

  Net advances grew 49.7% YOY and 14.9% QOQ to EGP 353.1 Bn in 4Q24, primarily driven by a continuous rise in local currency loans. NIMs grew 138 bps YOY to 9.43% in 4Q24. The Bank's asset quality strengthened as the NPL ratio improved from 3.5% in 4Q23 to 3.2% in 4Q24, owing to the ability to effectively reduce risk.

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