Commercial
International Bank (CIB) is a leading commercial bank in Egypt positioned as a private bank rather than a state-owned or joint venture. With its strong brand influence and market competitiveness, CIB has become a benchmark in the field of private banking in Egypt, focusing on providing diversified financial services to enterprises and individuals.
Full name and background
: Commercial International Bank (Egypt) S.A.E
Founded: Originally in 1975 as a joint venture between the National Bank of Egypt (51%) and Chase Manhattan Bank (49%), it was named "Chase National Bank of Egypt". In 1987, Chase Bank withdrew, and Bank Negara's shareholding increased to 99.9% and the name was changed to its current name. Subsequently, through several public offerings, Bank Negara's shareholding was reduced to 18.7%. In 2006, a consortium led by Ripplewood Holdings acquired a majority stake, and in 2009 Actis became the largest single shareholder (9.1%), and in 2014 Actis sold a portion of its stake to an international investment fund and a subsidiary of Fairfax Financial Holdings. Currently, CIB is listed on the Egyptian Stock Exchange (EGX) and is one of the largest listed companies in the Egyptian market by trading volume, headquartered in Giza, Egypt.
Scope of
ServicesCIB's services cover the entire territory of Egypt, with operations in Cairo, Upper Egypt, Alexandria, the Nile Delta and the Sinai Peninsula, and there is no clear record of a global branch network. In terms of offline outlets, CIB has more than 211 branches, covering all major administrative regions of Egypt, and is equipped with more than 1,000 ATMs to provide customers with convenient deposit and withdrawal services. CIB's clients include large corporations, SMEs, institutions and high net worth individuals, with significant growth potential for retail and SME banking.
Regulation &
ComplianceCIB is regulated by the Central Bank of Egypt (CBE) and is subject to its strict financial regulations. As a leading bank in Egypt, CIB participates in Egypt's deposit insurance program to ensure the safety of customer deposits. In terms of compliance record, CIB is a signatory to the Equator Principles and is committed to following environmental and social risk management standards in project finance. However, in the 2021 BankTrack Human Rights Benchmark Assessment, the CIB scored low (2 out of 14) and was rated as a "laggard", indicating that it needs to improve in terms of human rights policies, due diligence and reporting transparency. CIB is also a member of the Net Zero Banking Alliance (NZBA), committing to achieve a net-zero target for financed emissions by 2050.
Financial Health:
CIB demonstrated solid financial performance. At the end of 2022, CIB managed approximately EGP 531.6 billion in deposits and EGP 193.6 billion in loans, with total assets of over EGP 427 billion, making it one of the largest private banks in Egypt by assets.
capital adequacy ratio: CIB's capital adequacy ratio meets the requirements of the Central Bank of Egypt and is usually maintained at a high level (refer to the latest annual report for specific data).
Non-Performing Loan Ratio: CIB's non-performing loan ratio is relatively low, reflecting its prudent credit management capabilities.
Liquidity Coverage Ratio: CIB maintains sufficient liquidity and complies with international and Egyptian regulatory standards to ensure its ability to respond to short-term funding needs.
Overall, CIB's financial health is among the best in the Egyptian banking sector and is suitable for clients looking for stable banking services.
Deposit & Loan Products
deposits CIB offers a wide range of products such as current accounts, savings accounts, time deposits and certificates of deposit. The interest rate on a current account can be up to 5% per annum (e.g. CIB Kenya Branch), which varies by product and market. CIB's high-yield savings accounts and CDs are suitable for customers who are looking for a stable income, with flexible term deposits ranging from 1 month to several years.
Loans: CIB offers mortgages, car loans, and personal lines of credit, with interest rates varying based on the customer's credit rating and loan term. Mortgages and car loans typically have competitive fixed or variable interest rates, while personal loans allow for flexible repayment schedules, such as adjusting repayment periods or early repayment (which may involve additional fees). CIB also provides special loans for small and medium-sized enterprises to support entrepreneurship and development.
List of common fees:
Account management fee: Some current accounts may be exempt from the monthly fee, but there may be a minimum balance requirement for high yield accounts or special accounts (a fee of EGP 10-50 per month may be charged if the target is not met).
Transfer fees: Domestic transfers are usually free or low-cost, and cross-border transfer fees vary depending on the amount and destination (about 0.5%-1%).
Overdraft fees: Overdraft accounts may charge high interest rates (15%-20% per annum).
ATM interbank withdrawal fee: Interbank withdrawals are about 5-10 Egyptian pounds per withdrawal, and international withdrawals are more expensive.
Hidden Fee Alert: Customers should be aware of minimum balance requirements and account inactivity fees, and it is recommended to review the account terms regularly to avoid accidental charges.
Digital Service
ExperienceCIB excels in digital transformation, with its mobile banking app and online banking platform being well received.
APP & Online Banking: CIB's mobile banking app has a high rating among Egyptian users (about 4.0-4.5 stars on the App Store/Google Play) and offers features such as facial recognition login, real-time transfers, bill payments, and investment management. Online banking supports corporate customers in managing cash flow and trade finance.
Technological innovation: CIB introduced an AI-driven customer service chatbot to improve response speed and user experience. Open banking API support has not yet been widely promoted, but CIB is actively exploring partnerships with third-party fintech companies. Robo-advisory services provide personalized investment advice to high-net-worth clients.
The overall digital experience is smooth, especially for younger and tech-driven customers.
Customer Service Quality
Service Channels: CIB offers 24/7 phone support, live chat, and quick response on social media (Twitter, Facebook, etc.).
Complaint handling: CIB's complaint handling mechanism is more efficient, with an average resolution time of about 3-7 working days, and customer satisfaction is high. However, BankTrack pointed out that CIB's lack of external complaint channels for the impact of financing projects may affect the trust of some customers.
Multi-language support: CIB mainly provides services in Arabic and English, and some outlets and high-net-worth customer service support in French, which is suitable for cross-border users.
Security measures
security of funds: CIB participates in the Egyptian Deposit Insurance Program to protect customer deposits (the specific amount of insurance depends on the regulations of the Central Bank of Egypt, which usually covers 50,000-100,000 Egyptian pounds). Its anti-fraud system includes real-time transaction monitoring and anomalous behavior detection to reduce the risk of fraud.
Data security: CIB uses IBM security solutions to optimize identity and access management in line with international security standards. CIB claims to follow an ISO 27001 certification process to ensure data security, but does not disclose the status of certification. No major data breaches have been recorded.
Featured Services & Differentiation
market segments:
Student Accounts: CIB offers a fee-free student account for younger customers with a low-barrier savings plan.
Exclusive wealth management for the elderly: Design low-risk investment products for senior customers, such as fixed income savings accounts.
Green Finance: CIB supports ESG (Environmental, Social and Governance) investments and launches green loans and sustainable financing projects in response to the Net Zero goal.
High Net Worth Services: CIB's private banking services are geared towards high net worth clients, with an investment threshold typically above EGP 1 million, offering customized wealth management and portfolio optimization.
Market Position & Accolades
Industry ranking: CIB is one of the largest private banks in Egypt by assets, with total assets of about 427 billion Egyptian pounds (2020 data), Regional leader in global bank rankings.
Awards: CIB has been recognized by Global Finance several times, including "Best Bank in Egypt", "Best Bank in Emerging Markets" and "Best Bank for Foreign Exchange Transactions", highlighting its leadership in innovation and financial services.
