Tuesday 24 December 2024
 
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Commercial International Bank

Egypt's CIB to raise up to $1bn to fund growth

Commercial International Bank (CIB) will raise up to EGP8 billion ($1 billion) to fund expansion after its board backed the plan, Egypt's largest listed company said. The funds will be raised through local or international bon

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Egypt's CIB net profit up 23pc in Q2

Commercial International Bank, Egypt's largest listed lender, on Wednesday reported a 23 per cent rise in second quarter net profit after minority interest compared to the same period last year, it said in a statement. Second

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CIB to buy Citi's Egypt retail business

Commercial International Bank (CIB) has agreed to buy Citigroup's consumer banking business in Egypt, the North African country's largest listed lender said on Tuesday. The deal will add 80,000 credit card holders to CIB&#

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Egypt's CIB eyes $1.07bn capital boost

Commercial International Bank, Egypt's biggest private bank by capital, said it will double its issued and paid-up capital to 5.90 billion Egyptian pounds ($1.07 billion) financed from its reserves. The shareholders will receive o

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Actis buys 50pc stake in Egyptian bank

Actis, an emerging markets private equity specialist, said it has sealed a pact with a key investor to acquire a 50 per cent stake in Commercial International Bank (CIB), a leading bank in Egypt, for $244 million. Actis bought the stake fr

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Global may face lawsuit from Egyptian lender

Global Investment House said on Monday it may face legal action from Egypt's Commercial International Bank in a dispute over an unsettled loan. Egypt's Commercial International Bank 'has decided not to join the rest of lenders

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Egypt's CIB net profit jumps 35pc

Commercial International Bank, Egypt's largest lender by market value, said on Wednesday second quarter net profit jumped 35 percent, beating analyst forecasts. The bank said it made 516 million Egyptian pounds ($97 million) in the three m

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