NBK Capital issued a report on Commercial International Bank (CIB) ,where it raised the share's fair value by 25% to EGP 40.60 and kept its "Hold" recommendation. NBK Capital expects CIB to watch a mixed bag of growth trends in 2014 ,as it anticipates NIM to decline in 2014 compared with 2013 on the back of lower interest rates ,the high growth in income from fees and foreign exchange seen in 2013 is unlikely to be repeated in 2014 and net profit growth will decline from 35% in 2013 to around 20% in 2014. But Despite all of the above ,NBK still optimistic about CIB'S results for the coming quarters. NBK Capital believes CIB's key downside risk relates to the macroeconomic and political sentiment rather than the bank's fundamentals.