Commercial International Bank or CIB () is an
Egyptian bank, one of the largest banks in the Egyptian private sector.
History
The Commercial International Bank was established in 1975, with joint ownership by
National Bank of Egypt
National Bank of Egypt (NBE; ) is a bank founded in Egypt in June 1898, and is the country's largest bank (2013) in terms of assets, deposits, loans, bank-capital, number of total branches, and employees.[Chase Manhattan Bank
JPMorgan Chase Bank, N.A., doing business as Chase, is an American national bank headquartered in New York City that constitutes the consumer and commercial banking subsidiary of the U.S. multinational banking and financial services holding ...]
(49%) under the name "Chase National Bank of Egypt".
In 1987, after Chase Bank’s decision to sell its share of the shares, the National Bank of Egypt established an increasing in its stake to 99.9%, and the bank’s name was changed to "Commercial International Bank – Egypt." The National Bank of Egypt's share continued to decline through several public offerings, to reach 18.7%.
In 2006, a consortium led by
Ripplewood Holdings
Ripplewood is an American private equity firm based in New York City that focuses on leveraged buyouts, venture capital, late stage venture, growth capital, management buyouts, leveraged recapitalizations and other illiquid investments.
Ripplewo ...
acquired the share of the National Bank of Egypt. In July 2009,
Actis Actis may refer to:
*Actis (mythology), a Heliadae in Greek mythology
* Actis, California, an unincorporated community in Kern County, California, United States
*''Actis'', a synonym of the butterfly genus '' Pilodeudorix''
*Actis Capital
Actis ...
purchased a 9.1% stake in Commercial International Bank, thus becoming the largest single shareholder in the bank's capital.
In March 2014, Actis sold part of its stake in the bank amounting to 2.6%. The sale was made through the Egyptian Stock Exchange to a group of several portfolio managers and international investment funds.
In May of the same year, Actis sold its remaining 6.5% stake in the bank's capital to Fairfax Holding Company for Financial Services, and in late 2015 the Commercial International Bank acquired the shares of
Citibank
Citibank, N.A. ("N. A." stands for "National bank (United States), National Association"; stylized as citibank) is the primary U.S. banking subsidiary of Citigroup, a financial services multinational corporation, multinational corporation. Ci ...
– Egypt through the
Egyptian Stock Exchange and included all of its branches in its management.
in April 2022
ADQ — one of Abu Dhabi's sovereign funds acquired a stake in the bank worth $911.457m.
See also
*
List of banks in Egypt
This is a list of banks in Egypt, based on registration with the Central Bank of Egypt as of 2024.
List of banks in Egypt 2025
# Banque Misr, state-controlled
# National Bank of Egypt (NBE), state-controlled
# (EALB), state-controlled
# (ABE), ...
References
{{reflist
Egyptian brands
Banks of Egypt
Egyptian companies established in 1975
Companies listed on the Egyptian Exchange
Companies in the EGX 30