Cairo – Mubasher: Commercial International Bank (CIB) said Thursday that it signed an agreement with CI Capital, under which the latter will acquire the bank’s stake in finance leasing firm Corplease.

The agreement will bring more integration in terms of revenues and expenses, and will help the two parties coordinate at the operational level, CIB said.

In March, CIB agreed with Citibank to exchange exclusive information, in preparation for conducting due diligence for a takeover of Citibank’s retail banking portfolio.

CIB posted EGP 1.1 billion ($144 million) in net profits for the first quarter of 2015, up from EGP 805.7 million ($105.6 million) in the same period a year earlier.