Cairo – Mubasher: Commercial International Bank – Egypt (CIB) on Wednesday announced appointing Hussein Abaza as chief executive and board member for the bank.

The appointment follows an approval by the Central Bank of Egypt (CBE), CIB said in a statement to the Egyptian Exchange (EGX).

The bank also appointed Amr El Ganayney as acting CEO for the institutional sector pending regulatory approvals, the statement showed.

CIB last reported EGP 6.023 billion in profits in 2016, up 27.4% year-on-year.

The bank’s stock last traded down 0.58% to EGP 76.55 by 10:50 am Cairo time.