{"id":319894,"date":"2020-12-14T07:17:09","date_gmt":"2020-12-14T07:17:09","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=319894"},"modified":"2020-12-14T12:53:18","modified_gmt":"2020-12-14T12:53:18","slug":"commercial-international-bank","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2020\/12\/14\/commercial-international-bank\/","title":{"rendered":"Commercial International Bank"},"content":{"rendered":"

Commercial International Bank (CIB) – Egypt is the country’s leading private sector bank, offering a broad range of products and services to customers of all sizes: institutions, households and high net worth (HNW) individuals.<\/p>\n

Having the strongest bran\u200bd equity rightfully places CIB as the bank of choice for over 500 of Egypt\u2019s largest corporations. Moreover, CIB shows tremendous upside potential within the burgeoning Retail and SME Banking markets.<\/p>\n

The Commercial International Bank (CIB) advanced 179 spots in The Banker\u2019s Top 1000 World Bank ranking for 2020, moving up from 548 ranking in 2019 to 369 on its strong financial position as well as its commitment to innovation and Sustainable growth.<\/p>\n

The bank ranked no 10 in Africa with its capital standing at $ 2.943 billion, according to The Banker\u2019s ranking.<\/p>\n

The bank occupied the second position among the top five African banks with regard to its growth rate which recorded 74.76 percent.<\/p>\n

Excellent performance <\/strong><\/h3>\n

CIB succeeded in achieving an advanced position at the African and global levels in light of its strong business results reached during 2019. The bank recorded an increase in its net profit by 23.2 percent to record about 11.8 billion Egyptian pounds during 2019, compared to about 9.6 billion pounds during the same period in 2018.<\/p>\n

The bank\u2019s loans loan portfolio increased to 42.6 billion pounds during 2019, compared to 37.4 billion pounds during the comparative period, with a growth rate of 13.9 percent, while the net income from the return reached about 21.6 billion pounds in 2019 compared to 18.1 billion pounds, a growth rate of 18.9 percent<\/p>\n

The bank managed deposits portfolio exceeding 304 billion pounds by the end of 2019, compared to 285.3 billion pounds at the end of 2018, with an increase of 6.7 percent. The value of loans and facilities granted to clients is about 119.3 billion pounds by the end of 2019, compared to about 106.3 billion pounds a year earlier with an increase of 12.2 percent.<\/p>\n

The CIB 2020 Awards: <\/strong><\/h4>\n
    \n
  • \u200b\u200b\u200b\u200b\u200b\u200b\u200b\u200b\u200b\u200b\u200b\u200b\u200b\u200b\u200bBest Treasury & Cash Management Providers in Egypt -\u200b by Global Finance<\/li>\n
  • Best Foreign Exchange Provider in Egypt \u2013 Global Finance<\/li>\n
  • Best Bank in Egypt – by Global Finance\u200b\u200b\u200b\u200b\u200b<\/li>\n
  • Best Regional Bank in North Africa – African Banker<\/li>\n
  • Best Bank in Egypt \u2013 Euromoney<\/li>\n<\/ul>\n
    The Bank expansion in Africa:<\/strong><\/h5>\n

    CIB has acquired 51 percent of what is to be renamed as Mayfair CIB Bank Limited in Kenya in the form of a capital increase, for a total transaction value of $ 35.35 million.<\/p>\n

    The move comes in line with CIB’s mandate to explore and assess opportunities in Africa, building a bridge for Egyptian customers to benefit from regional integration efforts across the continent and benefiting from the prospects available from being Common Market for Eastern and Southern Africa (COMESA) members and the recent African Continental Free Trade Agreement (ACFTA).<\/p>\n

    Furthermore, CIB is the only representative of Egypt’s private sector to become a member of the Digital Economy Task Force (DETF), a joint venture between the African Union and the European Union to achieve cross-border integration and cooperation across Africa.<\/p>\n

    The DETF brings together stakeholders from government, civil society, financial institutions and other segments to further reinforce the development of policies and recommendations, reinforce synergy between initiatives and create coordination structures on national, regional and continental levels.<\/p>\n

    Its history:<\/strong><\/h4>\n

    Commercial International Bank was established in 1975 as a joint venture between the National Bank of Egypt (51%) and the Chase Manhattan Bank (49%) under the name \u201cChase National Bank of Egypt\u201d.<\/p>\n

    Following Chase\u2019s decision to divest its equity stake in 1987, National Bank of Egypt (NBE) increased its shareholding to 99.9%, and the Bank changed its name to Commercial International Bank (Egypt) S.A.E. NBE\u2019s stake gradually decreased through several public offerings till it reached 18.7%.<\/p>\n

    In 2006, a Consortium led by Ripplewood Holdings acquired the NBE stake. In July 2009, Actis a leading emerging markets private equity firm, invested US$ 244 million to acquire shares in CIB. Hence, Actis acquired 50% of the stake held by the Consortium led by Ripplewood Holdings.<\/p>\n

    Five months later, Ripplewood sold its remaining position of 4.7% in CIB through the open market. This move marked the successful transition of strategic partnership to be with Actis, who then became the largest shareholder in CIB with a 9.1% stake. In March 2014, Actis sold a portion of its holding in CIB, representing 2.6% of the Bank\u2019s total outstanding shares, in the open market to a group of international investors.<\/p>\n

    Later in the year, Actis, has successfully realised its investment in Commercial International Bank (CIB) and has sold its remaining 6.5% to Subsidiaries wholly owned by Fairfax Financial Holdings Ltd (\u201cFairfax\u201d) in May 2014. \u200b<\/p>\n","protected":false},"excerpt":{"rendered":"

    Commercial International Bank (CIB) – Egypt is the country’s leading private sector bank, offering a broad range of products and services to customers of all sizes: institutions, households and high net worth (HNW) individuals.<\/p>\n","protected":false},"author":4,"featured_media":319895,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[78],"tags":[69],"class_list":["post-319894","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-inspiring-experiences","tag-commercial-international-bank"],"yoast_head":"\nCommercial International Bank - egy-africa<\/title>\n<meta name=\"description\" content=\"Commercial International Bank (CIB) - Egypt is the country's leading private sector bank, offering a broad range of products and services to customers of all sizes: institutions, households and high net worth (HNW) individuals.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2020\/12\/14\/commercial-international-bank\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Commercial International Bank - 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