Commercial International Bank is the leading private sector bank in Egypt with total assets exceeding 427 billion Egyptian pounds according its financial statements by the end of 2020.
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 the name "Chase National Bank of Egypt”.
Following Chase's decision to divest its equity stake in 1987, National Bank of Egypt (NBE) increased its shareholding to 99.9%, and the Bank changed its name to Commercial International Bank (Egypt) S.A.E.
NBE’s stake gradually decreased through several public offerings till it reached 18.7%.
CIB is the largest listed on the Egyptian Stock Exchange in terms of the volume of free-traded shares. Financial analysis experts believe that CIB Egypt is the largest publicly listed company on the Egyptian Exchange. Its stakes represents over 40 % of the EGX 30.
CIB has succeeded to become a pioneering bank in the Egyptian banking sector through its history; realizing its vision that states ‘’ to be at the forefront of change, building for the future, and turning aspirations into reality.’’
The bank has also succeeded over the years in providing top-notch banking services to its customers a concept that proves its mission; ‘’to transform traditional financial services into simple and accessible solutions by investing in people, data and digitalization to serve tomorrow's needs today.
Upon such principles; the bank was awarded with the 2020 Best Emerging Markets Bank award by Global Finance.
Commercial International Bank (CIB) is leading the digital banking transformation in Egypt, using technological innovation to drive financial inclusion.
Today, it has 6,900 employees serving more than 1.4 million customers, including Egypt’s 500 largest corporations, online and at across 207 branches. Seeing strong potential in Sub-Saharan Africa, CIB acquired a majority stake in what is now Mayfair CIB Bank in Kenya.
Hussein Abaza became CEO in 2017, after serving six years as the CEO of Institutional Banking. While its Chairman is Sherif Samy.
