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Expanded partnership aims to increase lower-income employees’ financial literacy by providing access to banking services
Event highlights importance of Bank’s commitment to creating shared value while contributing to Egypt’s economic growth during global pandemic
Sami stressed that CIB pays great attention to CBE notices regarding compliance issues, and that the necessary mechanisms are being put in place to avoid the repetition of these issues in the future.
Two audit firms to look into CBE report on CIB violations, should financial fraud allegations stick
CIB price falls by 10%, but purchases by local portfolios and funds offset stock’s value loss to 6.9%
Slight selling pressure is projected at beginning of Sunday session
On his Facebook page, Ezz Al-Arab wrote, “In my 21 years of service to CIB, we have built an institution, growing its market capitalisation to more than $6bn, from $150m, and in the process being acknowledged as the best bank in global emerging markets in three of the past four years.”
The CIB Board of Directors has unanimously decided to appoint Sherif Sami as non-executive chairperson of the bank, subject to the Central Bank of Egypt’s (CBE) approval.
The FRA had requested suspension of CIB shares trading before the start of the Thursday session.
A CBE statement read, “The CBE approved the decision of the CIB’s Board of Directors to appoint Sherif Sami, a board member and former chairperson of the Financial Regulatory Authority, as a non-executive Chairperson, as of date.”
The tournament kicked off on 10 October at the New Giza Sporting Club, under the auspices of the Ministries of Youth and Sports, and Tourism and Antiquities. Since the semi-finals, Egyptian squash players dominated the high quality and well played matches.
Public attendance will take place amid strict health and safety protocols, including social distancing guidelines
Dr Dalia Abdel Kader will moderate MENA session at Annual Global Round Table
Award reflects bank’s sustainability initiative designed to raise awareness and employee engagement in sustainability practices
The Bank is celebrating a year of achievements on the sustainability front since becoming a founding signatory of the United Nations Environment Program – Finance Initiative’s Principles for Responsible Banking
Tournament to follow strict health and safety protocols, international travel policies, and social distancing guidelines
Fear of COVID-19 repercussions, increase in provisions for doubtful loans put pressure on banks’ balance sheets
Achievement recognises CIB’s successful journey as pioneer in Egypt’s banking sector, its strong commitment to sustainable finance
The agreement, worth a total of EGP 1bn, will see CIB act as the Mandated Lead Arranger, Book Runner and Facility Agent. They will do so alongside other lending banks, namely the Arab Investment Bank (AIB), Egyptian Gulf Bank (EG Bank) and United Bank.
CIB adopts long-term strategy to develop digital channels, automate payments, says Mohamed Farag
Bank made allocations of EGP 2.260bn, compared to EGP 795m during same period in 2019
Daily News Egypt monitors profit decline of 12 banks out of 16 surveyed
IFC’s commitments in Egypt since 2005 has reached $4bn
Loan forms part of executive management plans to strengthen CIB’s capital base, in preparation for expected economic recovery
The Business News Composite Index consists of four main indicators that address safety standards, rapid growth, customer satisfaction, and social responsibility. These four indicators are, in turn, based on a set of 16 sub-indicators.
Bank equity shielded against currency weakness through $200m IFC, EBRD support loan packages
It supports solutions and programmes to increase the working capital of the supply chain network whilst lower financing costs, speeding up operations, and providing lower risk.
The CIB contribution will also be dispersed to the National Emergency and Crisis Fund, as part of efforts to combat the virus.
CVentures is excited at the prospect of working closely with Countingup, and we look forward to helping them achieve their vision and grow into additional markets: Director at CVentures
ROAE records 19.6%, ROA 2.5%, net profit decreases 9% y-o-y