CIB Secures $150 Mn Support Loan from EBRD to Boost Capital and Fuel Growth

The Commercial International Bank (CIB) announced today, in a statement to the Egyptian Stock Exchange, that it has secured a $150 mn support loan from the European Bank for Reconstruction and Development (EBRD). This is part of the bank’s commitment to strengthen its capital structure.

The loan, with a duration of up to 10 years, will be included in the bank’s second capital tier. The management emphasizes the importance of enhancing this tier, particularly to support growth plans and safeguard the bank against potential economic fluctuations.

Hisham Ezz Al-Arab, Chairman of CIB, stated, “Our strategic partnership with the European Bank for Reconstruction and Development has proven its significance for the bank, especially in recent years. In addition to boosting the bank’s capital, this loan will facilitate ambitious expansion and capitalize on investment opportunities in the thriving Egyptian market.”

Jürgen Rigterink, the First Vice President of EBRD, expressed the bank’s pleasure in signing this agreement with one of its key partners in the private sector. He highlighted that the loan will contribute to enhancing CIB’s capital structure, increasing lending operations, particularly targeting green projects.