About Us

The 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 its original name 'Chase National Bank of Egypt'. Following Chase's decision to divest its equity stake in 1987, National Bank of Egypt increased its shareholding to 99.9%, and the Bank changed its name to Commercial International Bank (Egypt) S.A.E.

During 1993, as part of its privatization strategy, CIB successfully launched a public share issue resulting in a decrease of the major shareholder's stake to 43%, while CIB and NBE employees became the owners of 16% of the Bank's capital in a parallel employee ownership plan. The remaining 41% was sold to over 14,000 Egyptian, Arab and multinational investors, including the International Finance Corporation.

In July 1996, National Bank of Egypt (NBE), CIB's principal shareholder, sold an additional 20% equity stake in CIB's capital through a Global Depository Receipts (GDR) offering listed on the London Stock Exchange. This was the first such offering by an Egyptian company and has proven to be a great success representing the highest level of subscription of any Middle East international equity offer to date, raising over $120 million.

In 1999, CIB launched its Retail Banking activity offering a wide range of products and services aiming at diversifying CIB income mix, and capitalizing on CIB strong corporate base.

CIB then started an ambitious 4-years plan to centralize the bank (investing in the future). The IT conversion was finalized early in 2003 and the bank became fully centralized.

In 2003, CIB signed a contract with IFC whereby IFC would offer consultancy in developing the SMEs business. Also, CIB has upgraded its risk management in anticipation of Basle-II.

Capital has been belayed by a stock 1:1 stock dividend which doubled CIB Paid-in Capital to EGP 1,300 MM (up from EGP 650 MM).

Over the last few years, CIB added Commercial International Life Insurance (CIL), CONTACT Car Trading Company, and CorpLease for Financial Leasing to its affiliates.

CIB now stands at a 5% market share in loans (public banks included), with plans for increasing this share to 10%, cross-border expansion, stock listing and regional presence.

CIB remains to be focused on human capital acquisition and retention, core corporate culture and values, and integrating its synergies as Egypt's leading financial service conglomerate offering premier quality to its customers while maximizing shareholders' value.

Why CIB?

CIB is the best rated bank in Egypt (Sovereign Rating)
5th largest in bank in Egypt (Assets)
3rd largest bank in Egypt (Net Worth)
Best Bank in Egypt by Euromoney for the 10th year
Best Bank in Egypt by Global Finance for the 6th year
CIB maintained its targeted levels:

ROE > 20%                                (21.6% for Dec' 03)
Cost/Income < 30%                   (29% for Dec' 03)
Capital Adequacy < 10%            (11.6% for Dec' 03)