28/11/2017 09:00 AM
Further to the Bank's release that took place on November 14th, 2017, CIB would like to announce that it will sign today an agreement with International Finance Corporation (IFC) to provide the Bank with a subordinated loan of US$ 100 million. The subordinated loan qualifies as Tier II capital under the recently modified regulations of the Central Bank of Egypt (CBE), and has a term to maturity of 10 years.
This step comes in line with the Bank's active capital management strategy where the Bank's Management and Board continue to explore and pursue all available avenues to ensure a sustainable, comfortable capital base that is less vulnerable to external factors.
Again, the Bank would like to stress that said subordinated loan will not cause any dilution of equity and will enhance CIB's already strong capital ratio from 18.05% to 19.10%, thus, hedging the Bank against any potential mismatches between assets and equity, as well as supporting CIB's future growth plans.
