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Commercial International Bank (CIB)Egypt
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Created on: 2020-10-30 10:13:19
Last update: 2022-01-06 00:00:00

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CIB's headquarters in Cairo, Egypt. Photo: Google Earth/Streetview

About Commercial International Bank (CIB)

The Commercial International Bank (CIB) was established in 1975 as a joint venture between the National Bank of Egypt (51%) and the Chase Manhattan Bank (49%) under its original name 'Chase National Bank of Egypt'. Following Chase's decision to divest its equity stake in 1987, National Bank of Egypt increased its shareholding to 99.9%, and the bank changed its name to Commercial International Bank. In 1993, as part of its privatisation strategy, CIB launched a public share issue resulting in a reduction of the National Bank of Egypt's stake to 43%. Headquartered in Cairo, CIB provides services to clients in the corporate, commercial, retail, wealth, and SME spheres.

Website https://ir.cibeg.com/en
Headquarters
Nile Tower Building, 21/23 Charles De Gaulle, Giza
Cairo
Egypt
CEO/chair Hussein Abaza
CEO and Managing Director
Supervisor
Central Bank of Egypt
Annual report Annual report 2020
Ownership
listed on Egyptian Exchange (EGC)

CIB's complete shareholder structure can be accessed here.

Complaints and grievances

CIB does not operate a complaints or grievances channel for individuals or communities that might have been affected by the bank's financing.

Policy Assessments

Banks and Climate

Bank net zero commitments

BankLast update
Country
Target 2025
Target 2030
Net zero 2050
SBT
NZBA
CCCA
Details
Commercial International Bank (CIB)
2021-11-04
EGY
-10000
Egypt
Profile
Target 2025
Target 2030
Net zero 2050
SBT
NZBA
CCCA
20211104
Last update: 2021-11-04
Explanation

Commercial International Bank (CIB) joined the NZBA in April 2021

References
2021-6-1

Net Zero Banking Alliance

2021-6-1 | UNEP FI
Explanation

This table tracks the net zero pledges and commitments of banks. It shows whether banks have committed to net zero by 2050 and have set an interim emissions reduction goal for 2025 and/or 2030. It also notes banks that have not yet set targets but have pledged to do so in the future, including by joining the Collective Commitment to Climate Action or Net Zero Banking Alliance. Finally, it notes whether banks have (pledged to) set Science-Based Targets. More information and references can be found by expanding the 'details' section of each bank.

  • A blue check mark means the bank has set a target or joined the alliance. A check mark does not mean that the target set by the bank meets any particular standard, just that is has set a target. In case we have identified short comings in the target, for example when it only applies to lending and not underwriting), this is noted in the 'details' section.
  • An orange dash means a bank has pledged to set a target (for example, banks commit to set 2030 and 2050 targets when they join the NZBA), but have not yet actually done so.

Abbreviations:

CCCA = Collective Commitment to Climate Action
NZBA = Net Zero Banking Alliance
SBT = Science-Based Targets

For more details see this page.

Banks and Human Rights

Human Rights Benchmark Africa 2021

BankLast update
Country
Score
Ranking
Details
Commercial International Bank (CIB)
EGY
2
Laggard

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0
Egypt
Score
Laggard
2
Explanation

Commercial International Bank (CIB)'s human rights policies, processes and reporting were assessed as part of the Human Rights Benchmark Africa 2021. The bank is assessed as a Laggard, with a total score of 2 out of 14.

Policy: 2/3
Due dilligence: 0/5
Reporting: 0/3
Remedy: 0/3

Explanation
Laggard
Follower
Front runner
Leader
0 - 3.5 points
4 - 5.5 points
6 - 8.5 points
9 - 14 points
For more details see this page.

News

| |
Type:
Year:
blog
external news
our news

New bank climate initiative fails to grasp urgent need to end finance for fossil fuels

Civil society statement on the launch of the Net-Zero Banking Alliance
2021-04-22 | Nijmegen | BankTrack, urgewald, Amazon Watch, Bank on our Future, Indigenous Environmental Network, Market Forces, Positive Money, Rainforest Action Network, Reclaim Finance, ShareAction, Sierra Club
blog
external news
our news

Leading finance firms sign up to Mark Carney forum on low-carbon investment

2021-04-21 | The Guardian
blog
external news
our news

African banks responsive on human rights but most lack basic policies, finds new benchmark

Nigeria’s Zenith leads after publishing previously unavailable policies; state-owned National Bank of Egypt comes in last place with no points
2021-03-29 | BankTrack

Documents

Type:
Year:
annual reports
2021-04-23 00:00:00

Annual report 2020

2021-04-23 00:00:00 | CIB
csr policies
2021-03-31 00:00:00

Code of Conduct

2021-03-31 00:00:00 | CIB
csr policies
2021-03-29 00:00:00

Sustainable finance policy statement

2021-03-29 00:00:00 | CIB
csr policies
2021-01-10 00:00:00

Sustainable finance policy

2021-01-10 00:00:00 | CIB
annual reports
2020-10-30 00:00:00

Annual report 2019

2020-10-30 00:00:00 | CIB
annual reports
2020-10-30 00:00:00

CSR report 2019

2020-10-30 00:00:00 | CIB

Policies

Voluntary standards

Commercial International Bank (CIB) has committed itself to the following voluntary standards:
  • Global Reporting Initiative
  • Net-Zero Banking Alliance (NZBA)
  • Principles for Responsible Banking (PRB)
  • UNEP Finance Initiative

Investment policies

CIB's webpage on corporate social responsibility can be accessed here.

Year:
csr policies
2021-03-31 00:00:00

Code of Conduct

2021-03-31 00:00:00 | CIB
csr policies
2021-03-29 00:00:00

Sustainable finance policy statement

2021-03-29 00:00:00 | CIB
csr policies
2021-01-10 00:00:00

Sustainable finance policy

2021-01-10 00:00:00 | CIB

Good moves

Year:
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