The Clap CIB (COMI) reported financial results for Q1-2022. The bank recorded net income of EGP 4.24 billion, up from EGP 2.87 billion representing an increase of 48% on a yearly basis.
The bank’s revenues also increased 24%, recording EGP 7.77 billion compared to EGP 6.27 billion in Q1-2021. CIB attributed the jump in revenues to the increase in net interest income. For the bank’s full earnings release, click here.
Net interest income is the difference between the income a bank earns from its lending activities and the interest it pays to depositors
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