Commercial International Bank – Egypt (COMI) followed up its financial results released of Monday with a conference call yesterday, elaborating on its performance in Q1 2019. Generally, management sees that gradual improvement in the macroeconomic environment as catalyst to the bank’s stable performance through the quarter. This rosier macroeconomic picture has been partly painted by slightly tame inflation, a USD comeback to the banking system earlier in the quarter, a strengthening local currency, as well as a 100bps interest rate cut. Here are our key takeaways from the conference call.
For more details, please read the full report below.