25/12/2016 12:00 AM
Commercial International Bank-Egypt (CIB) remains in the spotlight of the world's renowned organizations, receiving international recognitions and awards for its record achievements and outstanding performance. Over the years, CIB-Egypt has succeeded to cement its leading role contributing to the development of the banking sector, in addition to offering innovative financial solutions and strengthening its position as the leading Egyptian private sector bank.
CIB-Egypt received 20 prestigious awards in 2016, covering various banking sectors. The Asian Banker granted the Bank four awards, including Best Employee Engagement Initiative in the Middle East that was awarded to CIB for instilling the traits of commitment among employees, encourage them to contribute to work progress and develop their abilities, all with the aim of achieving success as one team. The other Asian Banker awards were Best Retail Risk Management Initiative in the Middle East, Achievement in Liquidity Risk and Operational Risk for Middle East and Africa.
Besides, the Bank won three awards from EMEA Finance, which are Best Cash Management Services in North Africa, Best Foreign Exchange Services in North Africa and Best Bank in Egypt. The EMEA Finance organization is specialized in the monitoring and analysis of the banking, financial and investment activity in Europe, Middle East and Africa through a dedicated team of consultants, experts, financial analysts and economic editors, which nominates a list of major banks operating in the region of the Middle East and Africa.
The list of other prominent awards reaped by CIB-Egypt includes as well the Euromoney Excellence Award for Best Bank in Egypt, which was received for the fourth consecutive time. Besides, the Bank was granted six awards on country level from Global Finance, including Best Trade Finance Provider, Best Treasury & Cash Management Providers, Best Bank in Egypt, Best Foreign Exchange Providers, and Best Sub-custodian Bank, in addition to Best Private Bank that was received for the first time ever in CIB's history. Likewise, another two awards were received for the first time as well, which are Best Bank in Egypt Supporting Women Owned and Women Run Businesses from the American Chamber of Commerce in Egypt and the Middle East Most Effective Recovery from the Business Continuity Institution (BCI).
In recognition of the Bank's continued support for the Egyptian economy and tireless efforts to provide better services and fulfill customers' needs and requirements related to the trade finance, the European Bank for Reconstruction and Development (EBRD) chose CIB-Egypt for its award of the "Most Active Issuing Bank in Egypt".
As 2016 is near to an end, CIB-Egypt was honored with three more recognitions of its outstanding performance, which are The Banker's award of Best Bank in Egypt, in addition to the two awards of JP Morgan, MT 202 ELITE Quality Recognition Award with STP rate of 99.70% and MT 103 Quality Recognition Award with STP rate of 98.22%.
Winning these prestigious awards does not only evidences CIB's outstanding performance over the years, but it is also a global recognition of the strength and high competences of the Egyptian banking sector and its ability to advance the wheel of development, supporting the national reform plans for a prosperous economy.