special sources: Commercial International Bank establishes CIB Africa Holding Company in Mauritius with 100% ownership

First Bank know from special sources that Commercial International Bank of Egypt established a subsidiary company called "CIB Africa Holding Company" in Mauritius with 100% ownership, stressing that the company did not start its activity until the date of the preparation of the Bank’s latest financial statements.

It is worth mentioning that CIB has established a subsidiary company in Kenya under the name of Commercial International Bank (CIB) Kenya with 100% ownership, as well. CIB also has investments in four subsidiaries and associates within the Arab Republic of Egypt.

The Bank owns about 99.96% of Commercial International Finance Company, 49.95% of Damietta Shipping & Marine Services, and 39.33% and 37% investment in Al Ahly Computer and T.C.A, respectively.