CIB Bank posted a net income figure of EGP 10 24 bn in 2020 vs EGP 11 80 bn in 2019 showing a 13 3 YoY drop This decrease in bottom line came mainly from surging the loan loss provision to EGP 5 02 bn in 2020 from EGP 1 43 bn in the previous year This acceleration in loan loss provision was to cover any sudden increase in non performing loans due to the breakout of the COVID 19 pandemic in March 2020 Throughout Q 2 2020 the cabinet imposed a curfew at night, leading to a partial suspension of some of the economic activities, which represented a pressuring factor for asset quality Worth to mention that the bank charged loan loss provisions of 12 0 of gross loans, surpassing listed peers average of 5 6 in 2020 However, in terms of profitability ratios, CIB succeeded to record a NIM of 6 92 and ROAA of 2 5 vs peers' average of 5 2 and 2 3 respectively in 2020.