Commercial International Bank - Egypt (CIB) (COMI)

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News

5 February 2019 00:06 PM CIB logs EGP 9.58bn profit in 2018

Cairo - Mubasher: The Commercial International Bank – Egypt (CIB) on Tuesday reported a 27% year-on-year rise in profits for 2018. Net profits totalled EGP 9.58 billion during the 12-month period ended December, up from EGP 7.53 billion in 2017, …

Financial Results

23 January 2019 04:08 PM Three Egyptian lenders among top 500 banking brands

Cairo – Mubasher: Three Egyptian banks have been ranked among the top 500 banking brands around the world for 2019. The National Bank of Egypt (NBE) came in the 292nd spot among top 500 banking brands this year, versus the 319th spot last year, …

Banking and Finance

16 January 2019 09:21 PM Pharos Research sets FV of 10 EGX-listed banks

Cairo – Mubasher: Pharos Research has set the fair value (FV) of 10 banks listed in the Egyptian Exchange (EGX). The FV of Commercial International Bank (CIB) was set at EGP 90 per share, with equal weight recommendation, according to Pharos’ …

Trading Activities

10 January 2019 06:53 PM CIB OKs capital increase to EGP 50bn

CIB OKs capital increase to EGP 50bn

Global Economy

18 December 2018 04:40 PM CIB sets up Egypt’s 1st venture capital FinTech firm

CIB has marked FinTech as one of the key drivers of financial inclusion in Egypt

Global Economy

5 December 2018 01:22 PM CIB explains tax amendment impact, projects profit fall in 2019

Global Markets brief

8 November 2018 11:55 AM CIB’s stock jumps 1.8% at Thursday's open on positive results

By: Heba El Kordy Cairo – Mubasher: Commercial International Bank – Egypt's (CIB) stock rose early Thursday on Egyptian Exchange (EGX) after the bank posted positive results for the first nine months of 2018. By 10:45 am Cairo time, CIB’s stock …

Banking and Finance

8 November 2018 10:44 AM CIB posts EGP 7bn profits in 9M

Cairo - Mubasher: The Commercial International Bank – Egypt (CIB) on Thursday posted a 24% year-on-year increase in profits for the first nine months of 2018. Profits amounted to EGP 7.01 billion during the nine-month period ended 30 September, …

Banking and Finance

9 October 2018 11:58 AM CIB to securitise Raya’s debts

Cairo – Mubasher: Raya Holding for Financial Investment has signed a preliminary agreement with the Commercial International Bank (CIB) for the securitisation of some of its debts and liabilities for three subsidiaries. The securitisation will be …

Banking and Finance

27 August 2018 11:53 AM CIB OKs capital hike via bonus shares

Cairo – Mubasher: The board of International Commercial Bank (CIB) approved to raise issued capital to EGP 14.58 billion from EGP 11.6 billion through bonus shares. The board agreed to distribute bonus shares resulted from the capital increase at …

Corporate Actions

2 August 2018 00:48 PM Pharos Research maintains ‘Equalweight’ on CIB

Cairo – Mubasher: Pharos Research has maintained their ‘Equalweight’ recommendation for Commercial International Bank - Egypt (CIB) based on a fair value (FV) of EGP 105 per share. The bank is currently trading below the historical “good-times” …

Stock Evaluations

2 August 2018 11:28 AM CIB profits up 23% in H1

Cairo – Mubasher: Commercial International Bank - Egypt (CIB) on Thursday posted a 23.4% year-on-year rise in consolidated profits for the first half of 2018. Net profit amounted to EGP 4.42 billion in the six-month period ended June, versus EGP …

Banking and Finance

14 July 2018 07:52 PM CIB negates EGP 180m Alexandria fraud case

Cairo - Mubasher: The Commercial International Bank (CIB) has negated rumors that one of its employees may have stolen more than EGP 180 million ($10.1 million). In an official statement issued on Saturday, the bank said that is has completed a …

Banking and Finance

27 June 2018 08:57 PM Abraaj’s liquidation has no impact on CIB

Cairo - Mubasher: Commercial International Bank (CIB) has announced that it has granted two medium-term loans to two of the UAE Abraaj Capital’s units that have regular cash inflows. The Egypt-listed bank stated that it has no stakes in the …

Companies Investments

27 May 2018 04:47 PM CIB’s syndicated loans grow 9.7% in April

Cairo – Mubasher: Commercial International Bank’s (CIB) syndicated lending increased EGP 2.6 billion or 9.7% during the first quarter of 2018. CIB’s syndicated loans amounted to EGP 29.2 billion in Q1-18, compared to EGP 26.6 billion in the same …

Companies Investments

9 May 2018 03:27 PM Pharos Research maintains ‘Equalweight’ for CIB at FV of EGP105/shr

Cairo – Mubasher: Pharos Research has maintained their ‘Equalweight’ rating recommendation for Commercial International Bank’s (CIB) stock at a fair value of EGP 105 per share. The stock has hit historical levels, which will bolster its …

Stock Evaluations

9 May 2018 11:16 AM CIB Q1 profit rises 15%

Cairo – Mubasher: Commercial International Bank – Egypt (CIB) on Wednesday reported a 15% year-on-year surge in consolidated profits for the first quarter of 2018, recording a net profit of EGP 2.02 billion from EGP 1.7 billion. The bank’s net …

Financial Results

5 April 2018 07:39 PM Orange Egypt agrees EGP 7bn loan

Cairo - Mubasher: Orange Egypt for Telecommunications has signed a seven-year contract with eight banks for a loan totalling EGP 7 billion. The telecom operator signed the financing agreement with the Commercial International Bank (CIB), National …

Banking and Finance

5 March 2018 11:04 AM CIB’s OGM nods to dividends, capital hike

Cairo – Mubasher: The ordinary general meeting (OGM) of Commercial International Bank (CIB) on Sunday approved distributing cash dividends of EGP 1 per share and bonus shares at a 1-for-4 ratio. The OGM will also discuss raising the bank’s issued …

Cash Dividends

1 February 2018 04:21 PM MubasherTrade maintains Sell/Moderate Risk rating on CIB

Cairo – Mubasher: MubasherTrade has maintained their Sell/Moderate Risk rating for the Commercial International Bank Egypt (CIB) with a price target (PT) of EGP 76 per share, according to a recent report on Thursday. The CIB posted a 25% …

Stock Evaluations

1 February 2018 00:45 PM CIB proposes EGP 1.16bn dividends for 2017

Cairo – Mubasher: The Commercial International Bank Egypt’s (CIB) board on Thursday recommended a cash dividend distribution of EGP 1 per share for 2017 profits. The Egyptian lender suggested distributing about EGP 1.16 billion dividends to …

Cash Dividends

1 February 2018 11:34 AM CIB logs 25% increase in 2017 profits

Cairo – Mubasher: Commercial International Bank Egypt (CIB) on Thursday posted a 25% year-on-year surge in profits for 2017 due to a growth in net income. Net profit stood at EGP 7.5 billion in 2017, compared to EGP 6 billion profits in 2016, …

Financial Results

28 November 2017 11:51 AM CIB to get $100m subordinated loan from IFC

Cairo – Mubasher: The Commercial International Bank (CIB) will sign an agreement with the International Finance Corporation (IFC), the private sector investment arm of the World Bank, on Tuesday to obtain a subordinated loan of $100 million. The …

Companies Investments

14 November 2017 00:07 PM Egypt’s CIB to get $100m loan from EBRD Tuesday

Cairo – Mubasher: The Commercial International Bank – Egypt (CIB) is set to sign a deal with the European Bank for Reconstruction and Development (EBRD) on Tuesday. The deal involves a $100 million subordinated loan that will be given to CIB. “The …

Banking and Finance

9 November 2017 03:09 PM MubasherTrade maintains Sell/Moderate Risk rating on CIB

Cairo - Mubasher: MubasherTrade Research has maintained their Sell/Moderate Risk rating for the stock of the Commercial International Bank - Egypt (CIB), with the same price target (PT) at EGP 76 per share, according to a recent report. The CIB’s …

Stock Evaluations