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COMI

Commercial International Bank (Egypt)ECASE:COMI Stock Report

Market Cap

ج.م94.6b

7D

7.1%

1Y

-4.2%

Updated

19 Oct, 2021

Data

Company Financials +
COMI fundamental analysis
Snowflake Score
Valuation2/6
Future Growth3/6
Past Performance2/6
Financial Health5/6
Dividends2/6

COMI Overview

Commercial International Bank (Egypt) S.A.E provides retail, corporate, and investment banking services in Egypt.

Commercial International Bank (Egypt)E Competitors

QNB AlahliE

CASE:QNBA

ج.م35.0b

Saudi National Bank

SASE:1180

ر.س287.9b

First Abu Dhabi Bank P.J.S.C

ADX:FAB

د.إ199.0b

Qatar National Bank (Q.P.S.C.)

DSM:QNBK

ر.ق184.7b

Price History & Performance

Summary of all time highs, changes and price drops for Commercial International Bank (Egypt)E
Historical stock prices
Current Share Priceج.م48.00
52 Week Highج.م36.53
52 Week Lowج.م50.25
Beta0.45
1 Month Change8.35%
3 Month Change11.42%
1 Year Change-4.19%
3 Year Change-3.31%
5 Year Change54.71%
Change since IPO3,657.10%

Recent News & Updates

Shareholder Returns

COMIEG BanksEG Market
7D7.1%4.9%2.5%
1Y-4.2%4.9%10.9%

Return vs Industry: COMI underperformed the EG Banks industry which returned 4.9% over the past year.

Return vs Market: COMI underperformed the EG Market which returned 10.9% over the past year.

Price Volatility

Is COMI's price volatile compared to industry and market?
COMI volatility
COMI Beta0.45
Industry Beta0.38
Market Beta1

Stable Share Price: COMI is less volatile than 75% of EG stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: COMI's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19757,161Hussein Mohamed Abazahttps://www.cibeg.com

Commercial International Bank (Egypt) S.A.E provides retail, corporate, and investment banking services in Egypt. The company operates in four segments: Corporate Banking, Investment, Retail Banking, and Others. It offers current and saving accounts, easy accounts, business accounts, time deposits, and certificates of deposit; and personal/overdraft/mortgage, educational, solar, travel, car finance, and unsecured personal loans, as well as revolving overdraft salary upfront services.

Commercial International Bank (Egypt)E Fundamentals Summary

How do Commercial International Bank (Egypt)E's earnings and revenue compare to its market cap?
COMI fundamental statistics
Market Capج.م94.57b
Earnings (TTM)ج.م10.14b
Revenue (TTM)ج.م24.11b

9.3x

P/E Ratio

1.5x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
COMI income statement (TTM)
Revenueج.م24.11b
Cost of Revenueج.م0
Gross Profitج.م24.11b
Expensesج.م13.96b
Earningsج.م10.14b

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)5.15
Gross Margin100.00%
Net Profit Margin42.08%
Debt/Equity Ratio9.4%

How did COMI perform over the long term?

See historical performance and comparison

Dividends

2.0%

Current Dividend Yield

18%

Payout Ratio

Valuation

Is Commercial International Bank (Egypt)E undervalued compared to its fair value and its price relative to the market?

9.32x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: COMI (EGP48) is trading above our estimate of fair value (EGP34.69)

Significantly Below Fair Value: COMI is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: COMI is poor value based on its PE Ratio (9.3x) compared to the EG Banks industry average (4.3x).

PE vs Market: COMI is good value based on its PE Ratio (9.3x) compared to the EG market (11.9x).


Price to Earnings Growth Ratio

PEG Ratio: COMI is good value based on its PEG Ratio (0.6x)


Price to Book Ratio

PB vs Industry: COMI is overvalued based on its PB Ratio (1.5x) compared to the EG Banks industry average (0.6x).


Future Growth

How is Commercial International Bank (Egypt)E forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?

16.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: COMI's forecast earnings growth (16.7% per year) is above the savings rate (9.1%).

Earnings vs Market: COMI's earnings (16.7% per year) are forecast to grow faster than the EG market (14.3% per year).

High Growth Earnings: COMI's earnings are forecast to grow, but not significantly.

Revenue vs Market: COMI's revenue (14.2% per year) is forecast to grow faster than the EG market (10% per year).

High Growth Revenue: COMI's revenue (14.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: COMI's Return on Equity is forecast to be low in 3 years time (19%).


Past Performance

How has Commercial International Bank (Egypt)E performed over the past 5 years?

15.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: COMI has a high level of non-cash earnings.

Growing Profit Margin: COMI's current net profit margins (42.1%) are higher than last year (40.3%).


Past Earnings Growth Analysis

Earnings Trend: COMI's earnings have grown by 15.6% per year over the past 5 years.

Accelerating Growth: COMI's earnings growth over the past year (0.2%) is below its 5-year average (15.6% per year).

Earnings vs Industry: COMI earnings growth over the past year (0.2%) underperformed the Banks industry 0.2%.


Return on Equity

High ROE: COMI's Return on Equity (17.9%) is considered low.


Financial Health

How is Commercial International Bank (Egypt)E's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: COMI's Assets to Equity ratio (7.4x) is low.

Allowance for Bad Loans: COMI has a sufficient allowance for bad loans (204%).

Low Risk Liabilities: 95% of COMI's liabilities are made up of primarily low risk sources of funding.

Loan Level: COMI has an appropriate level of Loans to Assets ratio (28%).

Low Risk Deposits: COMI's Loans to Deposits ratio (34%) is appropriate.

Level of Bad Loans: COMI has a high level of bad loans (5.7%).


Dividend

What is Commercial International Bank (Egypt)E current dividend yield, its reliability and sustainability?

1.95%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: COMI's dividend (1.95%) isn’t notable compared to the bottom 25% of dividend payers in the EG market (2.69%).

High Dividend: COMI's dividend (1.95%) is low compared to the top 25% of dividend payers in the EG market (7.44%).


Stability and Growth of Payments

Stable Dividend: COMI has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: COMI's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (18.1%), COMI's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: COMI's dividends in 3 years are forecast to be well covered by earnings (36.4% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.7yrs

Average management tenure


CEO

Hussein Mohamed Abaza (59 yo)

4.58yrs

Tenure

Mr. Hussein Mohamed Maged Abaza has been the Chief Executive Officer and Executive Director of Commercial International Bank (Egypt) S.A.E. since March 14, 2017 and serves as its Managing Director since Ju...


Leadership Team

Experienced Management: COMI's management team is considered experienced (4.7 years average tenure).


Board Members

Experienced Board: COMI's board of directors are not considered experienced ( 1.8 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Commercial International Bank (Egypt) S.A.E's employee growth, exchange listings and data sources


Key Information

  • Name: Commercial International Bank (Egypt) S.A.E
  • Ticker: COMI
  • Exchange: CASE
  • Founded: 1975
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: ج.م94.572b
  • Shares outstanding: 1.97b
  • Website: https://www.cibeg.com

Number of Employees


Location

  • Commercial International Bank (Egypt) S.A.E
  • Nile Tower Building
  • 21/23 Charles de Gaulle Street
  • Giza
  • Egypt

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/19 14:31
End of Day Share Price2021/10/18 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.