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Commercial International Bank (CIB) was established in 1975 as a joint venture between the National Bank of Egypt “NBE” (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, NBE increased its shareholding to 99.9%, and the bank name was changed to Commercial International Bank (Egypt) S.A.E. NBE’s stake gradually decreased to 18.7% through several public offerings. In 2006, a Consortium led by Ripplewood Holdings acquired NBE stake. In July 2009, Actis, a leading emerging markets private equity firm, invested US $244 million to acquire CIB shares. Actis acquired then 50% of the stake held by the Consortium. Five months later, Ripplewood sold its remaining position of 4.7% through the open market, which marked the successful transition of strategic partnership to be with Actis, who then became the largest shareholder with a 9.1% stake. In March 2014, Actis sold a portion of its holding in CIB, representing 2.6% of Bank’s total outstanding shares, in the open market to a group of international investors. In May 2014, Actis, successfully realized its investment in CIB and sold its remaining 6.5% to Subsidiaries wholly owned by Fairfax Financial Holdings Ltd.
CIB, Egypt’s leading private sector bank, offers a broad range of financial products and services to customers, including enterprises of all sizes, institutions, households and high-net worth individuals. CIB strives to provide superior financial solutions to meet all customers’ needs. Having the strongest brand equity places CIB as the bank of choice for over 500 of Egypt’s largest corporations. CIB shows tremendous upside potential within the bourgeoning Retail and SME Banking markets. Through its superior management, high operating standards, corporate governance best practices and premier training programs, CIB has succeeded in becoming the most profitable commercial bank operating in Egypt for more than 35 years..
Commercial International Bank (CIB Egypt)
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