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Home › Banks ›
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Commercial International Bank (CIB)Egypt

Active

This profile is actively maintained
Last update: 2023-01-05 13:08:18
CIB's headquarters in Cairo, Egypt. Photo: Google Earth/Streetview

Active

This profile is actively maintained
Last update: 2023-01-05 13:08:18
Bank info
BankTrack campaigns
All
About
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
Ownership
listed on Egyptian Exchange (EGC)

CIB's complete shareholder structure can be accessed here.

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.

Sustainability
Commitments
Policies
Voluntary standards

CIB's most important sustainability commitments can be found ta the website sections listed below.

Links

Environmental and social responsibility
2023-01-05 00:00:00

Environment and climate change

Date listed represents date as accessed on website
Bank policy
2023-01-05 00:00:00 | CIB
2021-03-31 00:00:00

Code of Conduct

Bank policy
2021-03-31 00:00:00 | CIB
2021-03-29 00:00:00

Sustainable finance policy statement

Bank policy
2021-03-29 00:00:00 | CIB
2021-01-10 00:00:00

Sustainable finance policy

Bank policy
2021-01-10 00:00:00 | CIB
Commercial International Bank (CIB) has committed itself to the following voluntary standards:
Equator PrinciplesTags: Equator Principles | project finance | corporate social responsibility | sustainable development
Global Reporting InitiativeTags: sustainable development | human rights
Net-Zero Banking Alliance (NZBA)Tags: climate change | corporate social responsibility | energy | energy plants
Principles for Responsible Banking (PRB)Tags: climate change | corporate social responsibility | finance | sustainable development | United Nations | Voluntary Standards
UNEP Finance InitiativeTags: United Nations | sustainable development
News
BankTrack
Partners
Blog
External
Blog
BankTrack news BankTrack blog Partner news Partner blog

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
BankTrack news BankTrack blog Partner news Partner blog

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

2021-04-21 | The Guardian
Blog
BankTrack news BankTrack blog Partner news Partner blog

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
Resources
Documents
2023-01-05 00:00:00

Environment and climate change

Date listed represents date as accessed on website
Bank policy
2023-01-05 00:00:00 | CIB
2022-06-07 00:00:00

Annual report 2021

Annual report
2022-06-07 00:00:00 | CIB
2021-04-23 00:00:00

Annual report 2020

Annual report
2021-04-23 00:00:00 | CIB
2021-03-31 00:00:00

Code of Conduct

Bank policy
2021-03-31 00:00:00 | CIB
2021-03-29 00:00:00

Sustainable finance policy statement

Bank policy
2021-03-29 00:00:00 | CIB
2021-01-10 00:00:00

Sustainable finance policy

Bank policy
2021-01-10 00:00:00 | CIB
2020-10-30 00:00:00

Annual report 2019

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

CSR report 2019

Annual report
2020-10-30 00:00:00 | CIB
Accountability
Grievances

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

CIB is an Equator Principles signatory. While the Equator Principles have no official grievance mechanism, complaints relating to this bank's financing of Equator Principles projects can be filed through our own website www.equator-complaints.org.

This page evaluates Commercial International Bank (CIB)'s responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".

Impacts reviewed
Responded?
Total score
Response
Action
Monitoring

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Banks and Human Rights

Banks and Human Rights

BankTrack assessed CIB Egypt in its 2021 Human Rights Benchmark Africa, where it achieved 2 points out of 14 and was ranked as a 'laggard'. More information is detailed in the "Accountability" section of this profile.

The BankTrack Human Rights Benchmark

Human Rights Benchmark Africa 2021

BankLast update
Country
Score
Ranking
Details
Commercial International Bank (CIB)
EGY
2
Laggard 2
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.
Tracking the NZBA

Tracking the Net Zero Banking Alliance

Commercial International Bank (CIB) is a member of the Net Zero Banking Alliance (NZBA) and has therefore committed to reduce its financed emissions to net zero by 2050; within 18 months of joining the alliance set interim targets for 2030 (or sooner) for high emission priority sectors, and within 36 months set further sector targets; set new intermediary targets every 5 years from 2030 onwards; annually publish data on emissions and progress against a transition strategy including climate-related sectoral policies; and take a robust approach to the role of offsets in transition plans. BankTrack track's implementation of these commitments in the NZBA compliance tracker.

 

Tracking the Net Zero Banking Alliance
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