SectionEgypt overview
Commercial International Bank (CIB) (COMI)
Egypt's largest private-sector bank, and the heaviest stock in the EGX30 index.
About CIB
Commercial International Bank (CIB) is Egypt's largest private-sector bank. It began life in 1975 as Chase National Bank of Egypt, a joint venture between Chase Manhattan and the state-owned National Bank of Egypt, before becoming CIB in the late 1980s.
The bank serves large corporates, small and medium-sized businesses and retail customers through a national branch network, and has built a strong position in digital banking. Its shares trade on the Egyptian Exchange and its global depositary receipts trade in London.
Because of its size, CIB carries the largest weight in the EGX30 index, so its share price often sets the tone for the whole market. For investors, the stock is closely tied to Egypt's interest-rate cycle, the path of the pound and the health of the country's corporate borrowers.