Commercial International Bank Egypt
About Company
Commercial International Bank (CIB) is the leading private-sector bank in Egypt. It offers a wide range of financial products and services to individuals, institutions, and businesses of all sizes. In addition, the bank serves more than 500 of Egypt’s largest corporations.
Moreover, CIB continues to expand its presence in retail and SME banking. This growth helps attract new customers and strengthens its market position. As a result, CIB has become the most profitable private-sector bank in Egypt.
CIB was originally established in 1975 as Chase National Bank. It was a joint venture between Chase Manhattan Bank and the National Bank of Egypt (NBE). However, in 1987, Chase sold its stake to NBE. Consequently, the bank was renamed Commercial International Bank.
Over time, NBE gradually reduced its ownership in CIB. Then, in 2006, a consortium led by Ripplewood Holdings acquired the remaining 19% stake. Later, in 2009, Actis became the largest shareholder after acquiring part of Ripplewood’s stake.
Furthermore, Actis played a key role in shaping the bank’s strategy. In 2014, it started selling its shares in stages. Eventually, Fairfax Financial Holdings acquired the remaining stake through its subsidiaries.