CIB completes EGP 1.56bn securitization deal for B.TECH, serving as financial advisor, arranger, and manager
The Commercial International Bank (CIB) Egypt has successfully concluded the fourth securitization deal for B.TECH, valued at EGP 1.5605bn. CIB acted as the financial advisor, arranger, manager, and promoter for the transaction, which is part of a two-year securitization Programme
CIB completes EGP 1.82bn securitization transaction for GB Leasing
The Commercial International Bank (CIB) Egypt has successfully completed its ninth securitization transaction for GB Leasing, valued at EGP 1.82bn. This marks a significant milestone in the company’s ongoing three-year securitization bond issuance program, which totals EGP 15bn. In collaboration
CIB leads syndicated loan of EGP 9bn for Madinet Masr in partnership with 6 banks
The Commercial International Bank—Egypt (CIB), acting as the lead arranger and financier, has successfully arranged a syndicated loan worth EGP 9bn for Madinet Masr Housing and Development Company, a key player in Egypt’s real estate sector. This loan, which spans
Banks in Egypt report EGP 426.911bn in net profits for 9M 2024
The Central Bank of Egypt (CBE) has announced that banks operating in the Egyptian market achieved net profits of EGP 426.911bn in the first nine months of 2024. According to the latest report from the CBE, the total net return
Egyptian banks launch Apple Pay tokenization
Several major Egyptian banks have activated card tokenization services through Apple Pay, following the Central Bank of Egypt’s (CBE) February 2023 approval of regulations for this technology. National Bank of Egypt, Banque Misr, and Commercial International Bank (CIB) are among
Banks, mortgage companies inject EGP 78.66bn into low-income initiative in November
Financial institutions participating in Egypt’s low-income mortgage finance initiative provided a total of EGP 78.66bn in funding to over 606,839 beneficiaries in November 2024. A report from the Social Housing Fund and Mortgage Finance Fund revealed that 22 banks contributed
CIB reports Q3 standalone revenues of EGP 25.2bn
The Commercial International Bank – Egypt (CIB) has reported third-quarter 2024 standalone revenues of EGP 25.2bn, up 98% from third-quarter 2023. The bank’s nine-month 2024 standalone revenues were EGP 71.4bn, up 87% from the same period in 2023, on the
CIB becomes first bank to undergo electronic inspection under Egypt’s new tax system
Sherif Al-Kilani, Deputy Minister of Finance for Tax Policies, highlighted the Minister of Finance’s commitment to maintaining open communication with the Ministry’s success partners and the Egyptian Tax Authority. He expressed gratitude for CIB’s achievement as the first entity in
Al Tadamun Microfinance, CIB sign credit facility agreement worth EGP 150m
Al Tadamun Microfinance Foundation, a leader in financing micro-enterprises for women, announced that it had signed an agreement with the Commercial International Bank – Egypt (CIB) to renew a credit facility agreement worth EGP 150m. This agreement aims to expand
CIB exits investment in Egypt Otsuka Pharmaceuticals, selling stake to Otsuka Group – Dailynewsegypt
Commercial International Bank-Egypt (CIB), Egypt’s leading private-sector bank, has announced the successful completion of its planned exit from Egypt Otsuka Pharmaceuticals (EOP), a leading player in the pharmaceutical industry and a member of the Otsuka Group. The divestment, which saw