Corporate news

COMI Delivers Strong H1 2026 Results, While Valuation Remains Attractive

CIB reported a strong set of 1H26 results, with net profit rising by 18% YoY to EGP 39bn, compared to EGP 33bn in 1H25, reflecting the bank’s resilient operating performance. The bank maintained a robust capital adequacy ratio (CAR) of 28.4% and a healthy net interest margin (NIM) of 8.61%, while the loan-to-deposit ratio (LDR) increased to 52% from 48% a year earlier, indicating stronger lending activity. Customer deposits also grew by 25% YoY to EGP 1.3tn, up from EGP 1.04tn in the corresponding period of last year, underscoring CIB’s solid funding base. Despite its strong financial performance, the stock is currently trading at TTM P/E of 5.0x, below its 5 year historical average of 6.4x. Based on the historical average multiple, we estimate a fair value of EGP 169.5 per share, suggesting that the stock continues to trade at an attractive valuation.

Walaa Mosalam - Prime Research