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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
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
Policies
Voluntary standards

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

Environment and climate change

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

Code of Conduct

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

Sustainable finance policy statement

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

Sustainable finance policy

Bank policy
2021-01-10 00:00:00 | CIB
Commercial International Bank (CIB) has committed itself to the following voluntary standards:
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
Campaigns

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.

Human Rights Benchmark Africa 2021

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

 

News
Resources
Documents
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.

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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