Your Bank

At Your Convenience

Annual Report 2017

Timeline of

Milestones

  • 1975
    • First joint venture bank in Egypt was Chase National Bank
    • Becomes the first Egyptian bank to introduce an Institutional Banking Risk Rating Model
  • 1977
    • Becomes first private sector bank to create a dedicated division providing 24/7 banking services to shipping clients, with primary focus on business in the Suez Canal
  • 1983
    • After 12 years in a joint venture, on 15 June Chase Manhattan divested its stake in the Bank, based on a decision to reduce its minority holdings worldwide
    • The Bank’s name was effectively changed to Commercial International Bank (CIB)
  • 1989
    • CIB was selected by BSP to become its agent in Egypt
    • CIB remains the only bank that offers this service to airline passengers
  • 1991
    • First Egyptian commercial bank to arrange debt swap transactions
    • CIB becomes first bank to launch smart card centre in Egypt
  • 1993
    • CIB wins Euromoney’s ‘Best Bank in Egypt’ award for six consecutive years until 1998
    • Bank concludes Egypt’s largest IPO for a domestic bank on 12 September, with oversubscription rate of 150%, selling 1.5 million shares in a span of 10 days and generating EGP 390 million in proceeds, using no underwriters but relying instead on the Bank’s own marketing and placement capabilities for share sales
  • 1994
    • First bank in Egypt to connect with the international SWIFT network
  • 1996
    • First Egyptian bank to have a GDR program on the London Stock Exchange
  • 1997
    • First Egyptian bank to link to SWIFT via CITA
    • CIB concludes first and largest Euro-syndicated loan (USD 200 million)
    • Becomes first private sector bank with investment rating (after Luxor incident) (‘BBB -‘ by Fitch IBCA)
  • 1998
    • CIB becomes first private sector bank with investment rating (after Luxor incident)
    • (‘BBB -‘ by S&P)
    • First bank to link its database to that of Misr Clearing, Settlement & Deposit Company (MCSD)
    • First Egyptian bank to form Board of Directors Audit Committee
    • First Internal Audit Department to be independent
    • One of the first Egyptian banks to establish a Custody Department
    • One of the first Egyptian banks to establish a brokerage arm (CIBC)
  • 2000
    • First two Certified Bank Auditors (CBA)
  • 2001
    • First Egyptian bank to register its shares on New York Stock Exchange in the form of American Depository Receipts (ADR) Level 1 program
    • CIB becomes first bank to introduce FX cash services for five currencies through ATM
  • 2004
    • Heya becomes the first credit card on the market to acknowledge women’s financial independence
  • 2005
    • Only bank in Egypt to be awarded JP Morgan Quality Recognition Award starting 2005 up until 2012
    • CIB launches Osoul, its first money market fund in LCY
    • First bank in Egypt to launch a page on Bloomberg for local debt securities
  • 2006
    • CIB was the first to adopt a pricing policy according to the client risk rating as a step forward to abide by Basel II requirements
    • CIB was the first bank in Egypt to execute EGP 200 million repo transaction in local market
    • First and largest Egyptian bank to provide securitisation trustee services
  • 2007
    • Only Bank in Egypt chosen by UNIFEM and World Bank to participate in the Gender Equity Model (GEM)
  • 2008
    • First bank to use Value at Risk (VaR) for trading and banking book for internal risk management requirements, despite there being no regulatory requirements
  • 2009
    • CIB becomes first regional bank to introduce unique concierge and MasterCard emergency services
    • Only Egyptian bank recognised as ‘Best Bank in Egypt’ by four publications: Euromoney, Global Finance, EMEA Finance, and The Banker in the same year
  • 2010
    • First Egyptian bank to establish a GTS department
    • Only bank in Egypt able to retain one of the top two positions in the primary and secondary markets for Treasury Bills and Treasury Bonds
    • CIB is the first and only local bank in Egypt to begin enforcing Business Continuity Standards
    • CIB Foundation becomes the first in Egypt to have its annual budget institutionalised as part of its founding institution’s bylaws, as CIB shareholders unanimously agreed to dedicate 1% of Bank’s net annual profit to the Foundation
  • 2011
    • CIB-TCM becomes the pioneer of trading in almost 114 new and unconventional currencies
  • 2012
    • CIB becomes the first Egyptian bank to officially establish a Sustainable Development Department
  • 2013
    • First Egyptian bank to receive JP Morgan Elite STP Award
    • First Egyptian bank to upgrade its ADR to be traded on OTCQX platform
    • First Egyptian bank to sign an agreement with Bolero International LTD joining the Bolero Multi-Bank service for Guarantees
    • CIB is the first bank in Egypt to establish ERM framework and road map, endorsed and monitored by the BoD
    • Becomes the first to use RAROC
    • CIB breaks the record for the highest number of blood donors in a corporate office in a single-day campaign in Egypt through the Triple Effect initiative inaugurated by the CIB Foundation
    • CIB becomes the first bank in Egypt to introduce an interactive multimedia platform that offers customers the option of interacting with Call Centre agents over video calls
  • 2014
    • First Egyptian bank to sign agreement with Misr for Central Clearing, Depository, & Registry (MCDR) to issue debit cards for investors to collect cash dividends
    • CIB launches first co-brand credit card, Mileseverywhere, with national carrier EgyptAir
    • Introduces the first interactive social media platform in the Egyptian banking industry, available 24/7 to handle all customer queries
    • CIB becomes the first bank in Egypt to sponsor the establishment of intensive care units in Sohag through the Foundation, donating EGP 6 million to outfit the paediatric department at Sohag University Hospital with cutting-edge equipment
    • The first block trading transaction on the EGX takes place when Actis sells its 6.5% stake in CIB to Fairfax
  • 2015
    • First Egyptian bank to successfully pass external quality assurance on Internal Audit function
    • CIB launches roadside assistance services for the first time in Egypt
    • CIB generates highest FX income among private-sector banks in Egypt (in the past 10 years)
    • CIB becomes the first bank in Egypt to recognise conduct risk and establish a framework for it, despite the lack of regulatory requirements
  • 2016
    • CIB launches its Mobile Banking application, which includes various banking services, and offers clients numerous features to conveniently manage their accounts
    • CIB becomes the first Egyptian bank recognised as an active member in the globally renowned United Nations Environmental Program - Financial Initiative
    • CIB wins the Socially Responsible Bank of the Year 2016 award from African Banker
    • Recognised for the first time for several awards, including
      • Best Bank in Egypt Supporting Women Owned and Women Run Businesses by the American Chamber of Commerce in Egypt
      • Two awards in Achievement in Liquidity Risk and Operational Risk for Middle East & Africa by Asian Banker for 2016
      • Best Retail Risk Management Initiative for 2016 Asian Banker for 2016
      • Most Active Issuing Bank in Egypt in 2015 by The European Bank for Reconstruction and Development
      • Middle East Most Effective Recovery 2016 by BCI
  • 2017
    • Euromoney names CIB the “World’s Best Bank in the Emerging Markets,” making it the first bank in the Middle East and Africa to win this prestigious award
    • CIB is the first Egyptian bank to win the “Best Bank in the Middle East” award by Euromoney
    • CIB is ranked first in the Sustainability Index of the Egyptian Stock Exchange ‘S&P/EGX ESG’ for the fourth year in a row since 2014. The EGX launched the sustainability index in cooperation with Standard and Poor’s (S&P) and the Egyptian Institute of Directors (EloD) in March 2010.
    • CIB becomes the only Egyptian bank in the Financial Times Stock Exchange (FTSE) for the second consecutive year under the FTSE4Good Index