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 of Commercial International Bank (Egypt) S.A.E. NBE's stake gradually decreased through several public offerings until it reached 18.7%. In 2006, a consortium led by Ripplewood Holdings acquired the NBE stake. In July 2009, Actis, a leading emerging markets private equity firm, invested US$244 million to acquire shares in CIB. Hence, Actis acquired 50% of the stake held by the consortium led by Ripplewood Holdings. Five months later, Ripplewood sold its remaining position of 4.7% in CIB through the open market. This move marked the successful transition of the strategic partnership to be with Actis, who became the largest shareholder in CIB with a 9.1% stake.
Having the strongest brand equity rightfully places CIB as the bank of choice for over 500 of Egypt's largest corporations. Moreover, CIB shows tremendous upside potential with the bourgeoning Retail and SME Banking markets.
CIB has been consistently awarded for its broad range of products and services on numerous occassions by international publications. In 2013, CIB was named "Best Bank in Egypt" by Global Finance for the 17th year in addition to "Best Sub-Custodian Bank in Egypt" for the 5th consecutive year as well as "Best Foreign Exchange Provider Bank in Egypt" and "Best Trade Fiannce Bank in Egypt." CIB was awarded "The Best Bank Award" by Euromoney in 2013 as well as "Deal of the Year" by The Banker. Emeafinance also granted CIB "Best Local Bank" for the 5th consecutive year in 2012, and "Best Asset Manager in Egypt" for the 2nd consecutive year. CIB has been awarded "Best Asset Manager in Egypt" and "Best FX Provider in the Middle East" by Global Investors in 2012.
Through superior management, high operating standards, corporate governance best practices and premier training programmes, CIB continues to be the most profitable commercial bank in Egypt. As of December 2013, CIB's gross loan book reached EGB 46 billion, while customers' deposits marked EGP 97 billion, with a paid-in capital of EGP 9 billion. The bank has the largest market capitalization in the Egyptian banking sector, amounting to over EGP 29 billion as of December 2013 and operates a wide distribution network of 152 outlets and more than 500 ATMs. With a full-fledged suite of products and services, along with its investment arm "CI Capital", CIB manages to meet its clients' financial needs with integrity and expertise.
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