Commercial Int Bank - 9 Months Results

RNS No 3741d
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E.
7th December 1997


Re:  COMMERCIAL INTERNATIONAL BANK (CIB)
     THIRD QUARTER RESULTS TO SEPTEMBER 30, 1997

The first 9 months of 1997 were marked by substantial growth in deposits, loans
and net earnings.

Total assets increased by 31% to reach LE 14.2 billion ($4.2 billion) as
compared to the September 30, 1996 results.  Loans increased by 25%, while
Investments in Treasury securities increased by 36% for liquidity and tax
management reasons.

Customer deposits increased by over 32% to LE 9.5 billlion ($2.8 billion) due
to the increase in our branch network which attracted new client deposits.
CIB's Loans/Deposits ratio improved from 87% at September 30, 1996 to 82% at
September 30, 1997.  The liquidity ratio continues to be a very healthy 50%
level.

CIB's fee generation strategy was very satisfactorily developed.  Off balance
accounts increased to LE 5.4 billion ($1.6 billion) representing a 14% rate of
growth.

Capital adequacy improved to reach a solid Tier-I BIS ratio of 12.5% as of
September 30, 1997.  Loans Provisions/Loan Portfolio stands at 3.2%.

Net earnings increased by 10.8% to LE 200 million ($58.8 million) after taxes
and provisions.  Net interest income increased by 15% while foreign exchange
income grew by 20.8%.  Total operating expenses increased by 15% to reflect the
opening of the 5 new branches and 8 mini-branches since September 30, 1996.

If you have any questions, please do not hesitate to contact Mr Adel El Labban,
Managing Director (Tel: [phone]) or the under signed (Tel: [phone])

Maha Ragab
Senior Manager
Marketing Support Group

                            Financial Position
                          As Of September 30 1997

Assets

                              September 30, 1997            December 31, 1996
                                    LE                             LE

- Cash & Due from Banks         1,581,851,748               1,261,228,354
- Deposits with Other Banks     1,547,787,589                 816,415,475
- Treasury Bills                2,344,064,494               1,722,198,737
- Trading Investment (Net
 Of Provision for Investments)     66,950,170                  47,076,864
- Loans & Overdrafts
 (Net of Provision for
  Doubtful Debts                7,860,334,136               6,299,896,578
- Non-trading investments         567,611,112                 499,855,797
- Debit Balances & Other Assets   182,649,416                 132,063,314
- Fixed Assets (Net)               81,096,102                  71,936,226

Total Assets                   14,232,344,767              10,850,671,345

Liabilities & Shareholders'
 Equity
Liabilities

- Due to Banks                  1,632,989,402               1,739,191,254
- Customer Deposits             9,523,162,042               7,195,726,640
- Credit Balances &
 Other Liabilities                503,318,743                 403,600,044
- Medium Term Bonds               300,000,000                     --
- Medium Term Loans               679,035,600                     --
- Other Provisions                313,003,738                 307,747,957
- Dividends & Profit Sharing          --                      124,000,000

Total Liabilities              12,951,509,525               9,770,265,895

Shareholders' Equity

- Issued & Paid - in Capital      500,000,000                 500,000,000
- Reserves                        580,405,450                 580,405,450

Total Shareholders' Equity      1,080,405,450               1,080,405,450

Profit for the Period             220,429,792                     --
Total Shareholders' Equity &
Profit for the Period           1,280,835,242               1,080,405,450

Total Liabilities
& Shareholders' Equity         14,232,344,767              10,850,671,345

- Contra Accounts               5,413,137,897               4,745,429,400

                              Statement Of Income
                              For the Period from
                      January 01, 1997 to September 30, 1997

                                September 30, 1997       September 30, 1996
                                       LE                       LE

Interest Received

- From Clients                    517,667,961               404,705,805
- From Banks                       62,274,633                40,924,396
- From Treasury Bills &
  Bonds                           180,030,709               108,138,361

Interest Paid

- To Clients                     (455,257,105)             (313,020,158)
- To Banks                       (107,126,232)              (68,994,878)

Net Interest Margin               197,589,966               171,753,526

- Fees & Commissions              119,508,322                97,812,481
- Foreign Exchange Profits         25,675,262                21,251,705
- Dividends Income                  7,142,875                 4,364,687
- Gain from Sales of Investments       --                       821,186
- Other Income                      5,204,420                 3,361,304

Total Fee Income                  157,530,879               127,611,363

Net Operating Income              355,120,845               299,364,889

Provisions                        (55,295,804)              (34,491,447)
- General & Administrative
 Expenses & Depreciation          (91,169,807)              (79,090,399)
- Other Expenses                   (8,225,442)               (4,896,096)

Net Profit after Tax &
 Provisions                       200,429,792               180,886,947


END


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