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, making it the only strategic shareholder in CIB. Their interests in CIB are represented with one Board seat on the Bank’s Board of Directors
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.
Integrity
- Exemplify the highest standards of personal and professional ethics in all aspects of our business
- Be honest and open at all times
- Stand up for our convictions and accept responsibility for our own mistakes
- Comply fully with the laws, rules, and practices that govern CIB’s business in Egypt and abroad
- Say what we do and do what we say
Client focus
- Our clients are at the heart of our activities, and their satisfaction is our ultimate objective
- Our success is dependent upon our ability to provide products and services that help our clients achieve their goals
- We partner with our clients and work together as a single team with success as our primary objective
Innovation
- CIB has been a pioneer in the financial services industry since inception 40 years ago as the first joint venture bank in Egypt; we believe innovation is a core competitive advantage and promote it accordingly
- We seek to lead Egypt’s financial services industry into the future, with innovation being key to serving the millions of Egyptians who remain unbanked or underserved
Hard work
- Our work is governed by discipline and perseverance to achieve outstanding results for both our clients and stakeholders
- Our commitment to our clients is guided by our drive for excellence
- We work with our clients to accomplish their current goals and anticipate and plan for their future goals and objectives
Teamwork
- We collaborate, listen, and share information openly within the CIB family to enhance every staff member’s knowledge base and skill set
- Each member of our staff is an ambassador for CIB’s corporate brand and image
- We value and respect each other’s cultural backgrounds and unique perspectives
Respect for the individual
- We respect all individuals, whether employees, clients, shareholders, or community members
- We treat each other with dignity and respect and take the time to respond to questions and concerns
- We firmly believe each individual should have the space to make suggestions and offer constructive criticism
- CIB is a meritocracy, where all employees are privy to equal development opportunities based only on merit and accomplishments
Decorum
- CIB holds employee-client and business etiquette in the highest regard and maintains strict policies for governing decorum
- The observance of good behavior, speech, actions, and dress code is part and parcel of our culture at CIB