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All investigated transactions are correct, allegations are unfounded: CIB

The Commercial International Bank (CIB) released a press statement on Saturday stating that after the bank conducted a comprehensive internal investigation, they found that all banking operations within the bank were carried out in accordance with the banking procedures and rules. Moreover, according to the statement, all objected transactions were examined and found correct, and …

Mohamed Samir

CIB contributes to UNEP FI Banking Principles among 26 global banking institutions

Commercial International Bank-Egypt (CIB) participated in the first workshop organised by the United Nations Environment Programme Finance Initiative (UNEP FI) for the development of Banking Principles to include social and environmental responsibilities. These principles will be the first to align with the UN Sustainable Development Goals (SDGs) and the Paris Agreement on climate change, to …

Daily News Egypt

How to get personal or mortgage loans from CIB?

Commercial International Bank – Egypt (CIB) offers personal loans ranging from EGP 5,000 to EGP 1m without any guarantees, with a repayment period of up to 120 months. The bank additionally provides free life insurance for each borrower until the end of the loan period and allows borrowing with client’s deposits or savings certificates as …

Daily News Egypt

Electricity Ministry, UNDP, AmCham hail successful application of CIB energy efficiency 

The Commercial International Bank-Egypt (CIB) received a special award from the Energy Efficiency Project in recognition of its leading role in supporting and contributing to the national energy efficiency strategy through its various initiatives. The award was presented to Hisham Ezz Al-Arab, CIB chairperson and managing director, during the monthly luncheon of the American Chamber …

Daily News Egypt

CIB, AUC graduate new batch of entrepreneurs 

Bank aims to support startups to develop systems, technology solutions in field of financial innovation, expanding customer base, speeding up pace of financial inclusion: Farag The Commercial International Bank (CIB) graduated the third batch of business incubators in the field of financial technology, in cooperation with the American University in Cairo (AUC). The business incubator …

Daily News Egypt

IFC loans CIB $100m

The International Finance Corporation (IFC) signed an agreement on Tuesday with the Commercial International Bank (CIB) to fund it with $100m. This funding is considered the first supporting loan provided by the IFC to a local bank. This came after the recent regulations approved by the Central Bank of Egypt (CBE) allowing international finance institutions …

Mohamed Farag

Feeling the economic pulse

A year on from its currency devaluation, Egypt is brimming with opportunities for investments. Hesham Ezz Al-Arab, Chairman of the Commercial International Bank (CIB), talks of how the reforms have shaped the banking sector. How has the economic situation in Egypt altered after approximately a year since the decision to devalue the Egyptian Pound? We …

Forbes Middle East

EBRD provides $100m loan to Commercial International Bank of Egypt

EBRD is providing a subordinated loan of up to $100m to Commercial International Bank (CIB) to strengthen CIB’s capital base and support the growth of the bank’s lending in Egypt. The subordinated loan qualifies as Tier II capital under the recently modified regulations of the Central Bank of Egypt. It is the second time under …

Daily News Egypt

CIB profits EGP5.7bn in 9 months 

Commercial International Bank (CIB) posted a record profit of EGP 2.1bn in the third quarter (Q3) of 2017, up 23% year over year (YOY), according to the bank. Its revenues rose by 45% during Q3 of 2017 compared to the same period last year, reaching about EGP 4.2bn. During the first nine months of this …

Daily News Egypt

CIB Q2 results below consensus: Beltone

The Commercial International Bank’s (CIB) bottom line in the second quarter (Q2) of 2017 came in at EGP 1.8 bn (+25% y-o-y, +6% q-o-q), c.3-4% below both the market’s consensus estimates, Beltone said in a recent research note. The note attributed the reason for the marginal miss compared to their estimates to the higher-than-expected effective …

Daily News Egypt