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Created on: 2020-10-30 10:13:19
Last update: 2022-01-06 00:00:00
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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.
Nile Tower Building, 21/23 Charles De Gaulle, Giza
Hussein Abaza |
CEO and Managing Director
|Annual report||Annual report 2020|
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.
Banks and Climate
Bank net zero commitments
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.
CCCA = Collective Commitment to Climate Action
NZBA = Net Zero Banking Alliance
SBT = Science-Based Targets
Banks and Human Rights
Human Rights Benchmark Africa 2021
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.
Due dilligence: 0/5