CIB ranked 51st on Top 100 Listed Companies 2024
First Bank
Commercial International Bank - Egypt "CIB" ranked 51st among the top 100 companies listed in the Middle East for 2024 according to Forbes magazine, with total assets valued at $17.4 bn.
The bank's market value was estimated at $4.7 bn, while the bank's sales recorded about $2.6 bn, as well as the bank's total profit of $619 mn.
Based on Forbes' statement, the list was prepared based on information and data provided by financial markets in the countries of the region, to classify companies according to market value, sales, total assets and net profits for 2024.
CIB was established in 1975 as a joint venture between Chase Manhattan Bank and the National Bank of Egypt. In 2023, it had 193 branches and 15 units. The bank has more than 2.1 mn customers and has a presence in Africa through its subsidiaries. It acquired the remaining 49% stake in Mayfair-CIB Bank in Kenya for $40 mn in January 2023 and rebranded it to CIB Kenya Limited. Alpha Oryx Limited—a subsidiary of the U.A.E.’s ADQ—owns an 18.37% stake in the bank.
