Vision
To be at the forefront of change, building for the future, and turning aspirations into reality.
CIB is the leading private-sector bank in Egypt, offering a broad range of financial products and services to its customers, which include more than 500 of Egypt’s largest corporations, enterprises of all sizes, institutions, and households. CIB’s strong brand and growth in retail and SME banking segments continues to introduce new customers to the bank. As a result, CIB has succeeded in becoming the most profitable commercial bank operating in Egypt for more than 40 years.
The Bank was founded in 1975 as Chase National Bank, a joint venture between Chase Manhattan Bank and the National Bank of Egypt (NBE). In 1987, Chase divested its stake to NBE, who renamed the former joint venture Commercial International Bank.
Over time, NBE’s ownership in CIB declined, and in 2006 a consortium led by Ripplewood Holdings acquired NBE’s remaining 19%. In 2009, Actis, a Pan-African private equity firm specializing in emerging markets, acquired 50% of Ripplewood Consortium’s stake and became CIB's single largest shareholder, with a 9.06% stake.
The emergence of Actis as CIB's predominant shareholder marked a key transition in the bank’s strategic relationships. In March 2014, Actis divested 2.6% of its stake in CIB on the open market, maintaining its seat on the board, and in May of that year, sold its remaining stake to several wholly-owned subsidiaries of Fairfax Financial Holdings. Fairfax Financial Holdings owns through its wholly-owned subsidiaries a total of 6.55% of CIB’s shares. In April 2022, Alpha Oryx Ltd (a subsidiary of ADQ) acquired 18.595% of CIB.
Our Vision and Mission
Mission
To transform traditional financial services into simple and accessible solutions by investing in people, data and digitalization to serve tomorrow's needs today.
Our Values
People are the cornerstone on which our bank is built – brick by brick, byte by byte, transaction by transaction, day in and day out. At tellers’ counters and in our operation centers, in conversations with large corporate clients and fresh graduates entering the workforce, our people are helping Egyptians chart their financial futures. As they do so, every one of them plays a role in creating value for all our stakeholders, from our clients to our shareholders and the communities in which we do business.
This is the cornerstone of our success: banking is fundamentally a people business, and our talented employees are the people who are building the bank of the future and leading the conversation about our industry’s role in building a stronger nation.
Our staff of more than 6,900 know they are not alone: our management leads by example, and all who work at CIB embody our core values. These core values underline how CIB employees work together to deliver effective results for our customers and community.
Putting our customers first, we lead the market with agility and integrity
Customers First
We listen proactively to our customers to understand their needs and expectations
We integrate the voice of the customers in new product and service developments
We go the extra mile when serving our customers
We optimize our processes to deliver highest value and a seamless experience to our customers
We measure and benchmark customer engagement KPI’s and integrate them in our leadership evaluation
Lead The Market
- We strive to offer the best products and highest quality service
- We aim to invest further to strengthen and enhance our market position
- We provide an environment to our employees where everyone can give their absolute best
- We train and equip our employees to be best prepared for a constantly evolving financial service market
- We are a role model in implementing national initiatives and regulatory guidelines
Agility
- We embrace a changing market environment and respond decisively and swiftly
- We release new products and pilots quickly to test and optimize them in a real environment
- We are open to try new things, but rigorous in evaluating it’s success and happy to accept mistakes
- We collaborate proactively within cross-functional teams and limit vertical hierarchies to a minimum
- We leverage technology to support, facilitate and automate our processes and time to market
Integrity
- We hold ourselves accountable to a higher standard of responsibility
- We are doing the right things, even if it is commercially less attractive
- We communicate clearly what we can deliver and keep our word
- We do things right and create solutions that work
- We fully comply with all regulatory and compliance standards and apply zero tolerance to misconduct