Equity Analysis /
Egypt

CIB: CIB EGYPT: Stronger top line and lower provisions in Q2; Hold on valuation

    Rahul Shah
    Rahul Shah

    Head of Financials Equity Research

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    Tellimer Research
    2 August 2018
    Published byTellimer Research
    CIB is a well-managed franchise with a strong track record. Its profitability and balance sheet quality compare favourably with those of local and international peers. However, with shares trading at 11.6x 2018f PE, 2.8x PB and 1.8% DY, we see better value elsewhere.