Commercial International Bank

Commercial International Bank

Type	Public
Traded as	CASE: COMI.CA OTCQX: CIBEY
Industry	Banking and Financial Services
Founded	1975, Cairo, Egypt by merger between NBE and Chase Manhattan Bank
Headquarters	Cairo, Egypt
Operating income	US$2,477 million
Net income	US$3.79 billion
Total assets	US$16.9 billion
Subsidiaries	CI-Capital CIBC CIAM CIL Corplease Falcon
Website	www.cibeg.com

The Commercial International Bank (CIB) is the largest private-sector bank in Egypt.^[1][2] The company corporate headquarters are located in Cairo, Egypt . The bank serves more than 500,000 clients and has more than 6,000 employees.^[3]

CIB is one of the strongest banks in the Middle East and Africa. It is also the largest listed corporation in Egypt with a market value of $4.8 Billion, revenues of $1.3 Billion and total assets of $16.4 Billion.

The company is ranked in the Forbes Global 2000^[4] listing which represents the largest corporations in the world. Currently, there are only two Egyptian companies making the list.

History

Commercial International Bank was established in 1975 as a joint venture between the National Bank of Egypt (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, National Bank of Egypt (NBE) increased its shareholding to 99.9%, and the Bank changed its name to Commercial International Bank (Egypt) S.A.E. NBE’s stake gradually decreased through several public offerings till it reached 18.7%. In 2006, a Consortium led by Ripplewood Holdings acquired the NBE stake. In July 2009, Actis a leading emerging markets private equity firm, invested US$244 million to acquire shares in CIB. Hence, Actis acquired 50% of the stake held by the Consortium led by Ripplewood Holdings. Five months later, Ripplewood sold its remaining position of 4.7% in CIB through the open market. This move marked the successful transition of strategic partnership to be with Actis, who then became the largest shareholder in CIB with a 9.1% stake. In March 2014, Actis sold a portion of its holding in CIB, representing 2.6% of the Bank’s total outstanding shares, in the open market to a group of international investors. Later in the year, Actis, has successfully realised its investment in Commercial International Bank (CIB )and has sold its remaining 6.5% to Subsidiaries wholly owned by Fairfax Financial Holdings Ltd (“Fairfax”) in May 2014.

Commercial International Bank (CIB) is the leading private sector bank in Egypt, offering a broad range of financial products and services to its customers, which include enterprises of all sizes, institutions, households and high-net worth individuals. The Bank strives to provide clients with superior financial solutions to meet all of their financial needs. Having the strongest brand equity rightfully places CIB as the bank of choice for over 500 of Egypt’s largest corporations. Moreover, 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.

CI Capital

CI Capital is the investment arm of the Commercial Internationational Bank (CIB) with corporate headquarters in Cairo and New York. It is one of the largest investments banks in the Middle East and North Africa (MENA) region. In 2015, Global Finance Magazine ranked CI Capital as the best Investment Bank in Egypt.^[5]

The Investment Bank serves a range of clients including governments, corporations, financial institutions, high-net-worth individuals and retail customers.

CI Capital has the following four divisions:

Asset Management.^[6]

CI Capital Asset Management (CIAM) is the largest bank-backed asset manager in Egypt and second-ranked overall with more than EGP 11 billion in Assets under Management. CIAM offers fixed income, money market and equity products.

Investment Banking.^[7]

CI Capital have advised on transactions worth in excess of EGP 84 billion since inception, including initial public offerings, secondary offerings, private placements, rights issues, debt restructurings and bond issuances. CI Capital Investment Banking is the partner of choice for major national, regional clients seeking sophisticated advisory on complex national and cross-border M&A, equity and debt capital markets, and corporate finance transactions.

Securities Brokerage.^[8]

CI Securities Brokerage (CIBC) is the number one securities broker in Egypt by market share of trading executions.^[9] The division was the only broker in Egypt to execute transactions worth in excess of EGP 1 billion last year.

Research.^[10]

CI Capital Research has a coverage of more than 80% of the aggregate MENA market cap. The department offers an unrivaled, comprehensive product lineup as well as access to senior management at leading MENA corporations via management roadshows, reverse roadshows, and one-on-one conference calls. They are also the organizer of the largest Egypt-focused investor conferences held annually across Cairo, South Africa, London and New York, which play host to participants including high-level Egyptian government officials, Central Bank of Egypt policymakers, and senior corporate managers.^[11]

CorpLease

CorpLease (Corporate Leasing Company Egypt S.A.E) is a broad-based financial services company operating in Egypt since 2004 and providing a range of leasing products and services.^[12]

It focuses on large and medium ticket leasing transactions in all sectors and industries.

CorpLease has four primary business lines: Vendor Finance, Direct Leasing, SME Finance and Structured Finance.

Commercial International Insurance (CIL)

Commercial International Life Insurance was formed in 1999 as an Egyptian joint stock company offering international value-for-money life insurance products.

As of March 2014, CIB gross loan book reached EGP 46 billion, while customer deposits marked EGP 103 billion, with a paid-in capital of EGP 9 billion. The Bank has the largest market capitalization in the Egyptian Banking sector, amounting to over EGP 33 billion as of March 2014, and operates a wide distribution network of 155 outlets and more than 500 ATMs.^[13]

Awards and Recognitions

CIB is recognized as the bank with the strongest brand equity in corporate banking in Egypt, it has also been consistently recognized on a global level as the 'Best Bank in Egypt', an award it has received on numerous occasions by publications such as The Banker, Global Finance, Euromoney and Emerging Markets.^[14]

2015 Awards:^[15]

•Best Business Continuity Team by DRI International

•Best Trade Finance Provider in Egypt by Global Finance

•Best Foreign Exchange Providers in Egypt by Global Finance

•Best Bank in Egypt 2015 - By Global Finance

2014 Awards:^[16]

•Best Trade Finance Provider in Egypt by Global Finance - CIB won Best Trade Finance Bank 2014 for the 8th year.

•Best Foreign Exchange Provider in Egypt by Global Finance -CIB won the Best Foreign Exchange Provider Bank 2014 for the 11th year

•Best Investment Bank 2014 - by Global Finance

•Best Bank in Egypt by Global Finance

•Best Emerging Markets Banks in Africa - By Global Finance

•Best Subcustodian Bank 2014 - By Global Finance

•Best Bank in Egypt 2014 - Excellence Award by Euromoney -CIB won the Best Bank in Egypt 2014 Excellence Award for the 2nd year.

•Best FX Services in Africa Award - by EMEA Finance

•Best Corporate/Institutional Internet Bank in Egypt - Global Finance

•Best Online Cash Management - Global Finance

•Best Integrated Corporate Bank Site - Global Finance

•Best Information Security Initiatives - Global Finance

•Pan – Africa Award for Corporate Social Responsibility - by EMEA Finance

•Best local bank in Egypt Award - by EMEA Finance

•Elite Quality Recognition Award by JP Morgan - MT 103 (99.23% for 5 years)

•Elite Quality Recognition Award by JP Morgan - MT 202 (99.8% for 9 years)

•Bank of the Year in Egypt 2014 - By The Banker

•Best Company for Investor Relations in Egypt - By Extel in Partnership with the Middle East Investor Relations Society

2013 Awards:^[17]

•Best Trade Finance Provider in Egypt by Global Finance -CIB won Best Trade Finance Bank 2013 for the 7th year

•Best Foreign Exchange Provider in Egypt by Global Finance -CIB won the Best Foreign Exchange Provider Bank 2013 for the 10th year

•Deal of the Year By the Banker Magazine -Africa - Structured finance Deal

•The World’s Best Emerging Markets Banks 2013 in the Middle East – By Global Finance

•Best Bank 2013 by Global Finance -CIB was awarded the Best Bank in Egypt for the 17th Year

•Best Bank in Egypt 2013 - Excellence Award by Euromoney

•Best Subcustodian Bank 2013 – By Gobal Finance

•Best FX Service in North Africa Award – By EMEA Finance

•Best Internet Bank Award 2013 by Global Finance -Best Online Cash Management – Regional Award

•CIB was ranked 1st Top Ranked Bank in North Africa By - FTSE Global Markets

•CIB was ranked 2nd Best Overall Provider within LEVANT and North Africa by - FTSE Global Markets

•The Banker "Bank of the Year - Egypt" Award

•Best Foreign Exchange Providers 2014 – Country Winner – Global finance

•Best Trade Finance Bank in Egypt 2013 - GTR Global Trade Review

2012 Awards:^[18]

•Best Local Bank in Egypt by EMEA Finance -CIB won EMEA Finance Best Local Bank for the 5th consecutive year

•Best Asset Manager in Egypt by EMEA Finance -CIB won emeafinance Best Asset Manager for the 2nd consecutive year

•Best Bank in Egypt by Global Finance -CIB has been elected as Global Finance Magazine’s “Best Bank in Egypt” for the 16th year

•Best Sub Custodian Bank by Global Finance -CIB won Best Sub Custodian Bank for the 4th consecutive year

•Best Trade Finance Provider by Global Finance -CIB won Best Trade Finance Bank for the 6th year

•Best Foreign Exchange Provider by Global Finance -CIB won Best Foreign Exchange Provider Bank for the 9th year

•Quality Recognition Award U.S. Dollar Clearing MT202 98.09% by JP Morgan

•Elite Quality Recognition Award U.S. Dollar Clearing MT103 99.39% by JP Morgan

•Best Asset Manager by Global Investor -CIB has been awarded by Global Investor as Best Asset Manager in Egypt for the 3rd consecutive year

•Best FX Provider in the Middle East by Global Investor -CIB has been awarded by Global Investor as FX in the Middle East for the 2nd year

•Best Trade Finance Bank in Egypt 2012 by GTR for the 4th consecutive year

•"STP awards for 2012 in USD and EUR”, from Deutsche Bank

2011 Awards:

•Best Local Bank by EMEA Finance

•Best Asset Manager in Egypt by EMEA Finance

•Best Project Finance Deal in Africa by EMEA Finance

•Best Natural Resources Deal in Africa by EMEA Finance

•Best Securitization Deal by EMEA Finance

•Best Bank in Egypt by Global Finance

•Best Sub Custodian Bank by Global Finance

•Best Trade Finance Provider by Global Finance

•Deal of the Year by The Banker

•Bank of The Year by The Banker

•STP Performance Level for MT103 Payments by JP Morgan

•STP Performance Level for MT202 Payments by JP Morgan

•Quality Recognition awards for Book Transfers by JP Morgan

•Best Asset Manager by Global Investor

•Highest Growing Credit Card Issuer Bank in Egypt by Mastercard

•Highest Growing Acquiring Bank in Egypt by Mastercard

•Best Performing Debit Card Issuer Bank in Egypt by Mastercard

2010 Awards:

•Euromoney, Best Bank in Egypt

•Global Finance, Best bank in Egypt

•Global Finance, Best Sub Custodian Bank

•Global Finance, Best Trade Finance Provider

•Global Finance, Best Foreign Exchange Provider in Egypt

•Euromoney Global Investors, Best FX Provider

•Euromoney Global Investors, Best Asset Manager of the Year (CIAM)

•EMEA Finance, Best Local Bank

•EMEA Finance, Best PPP Deal in Africa

•EMEA Finance, Best Securitisation Deal in EMEA

•EMEA Finance, Best Structured Finance Deal in Africa

•Deutsche Bank - STP Excellence Award

•Project Finance – Deals of the Year

2009 Awards:

•EUROMONEY, “Best Bank in Egypt”

•The Banker, “Bank of The Year”

•Global Finance, “Best Bank in Egypt”

•EMEA Finance, “Best Bank in Egypt”

•Global Finance, “Best Foreign Exchange Bank”

•Global Finance, “Best Trade Finance Bank in Egypt”

•Global Finance, “Best Sub Custodian Bank”

References

External links

• CIB website