Timeline of

Milestones

  • 1975
    • Becomes first joint venture bank in Egypt as Chase National Bank
    • Becomes the first Egyptian bank to introduce an Institutional Banking Risk Rating Model
  • 1977
    • Becomes first private sector bank to create a dedicated division providing 24/7 banking services to shipping clients, with primary focus on business in the Suez Canal
  • 1983
    • After 12 years in a joint venture, on 15 June Chase Manhattan divests its stake in the Bank, deciding to reduce its minority holdings worldwide
    • Changes its name to Commercial International Bank (CIB)
  • 1989
    • Selected by BSP to become its agent in Egypt
    • Remains the only bank that offers this service to airline passengers
  • 1991
    • First Egyptian commercial bank to arrange debt swap transactions
    • Becomes first bank to launch smart card center in Egypt
  • 1993
    • Wins Euromoney’s ‘Best Bank in Egypt’ award, the first of six consecutive wins through to 1998
    • Concludes Egypt’s largest IPO for a domestic bank on 12 September, with oversubscription rate of 150%, selling 1.5 million shares in a span of 10 days and generating EGP 390 million in proceeds, using no underwriters but relying instead on the Bank’s own marketing and placement capabilities for share sales
  • 1994
    • First bank in Egypt to connect with the international SWIFT network
  • 1996
    • First Egyptian bank to have a Global Depository Receipt (GDR) program on the London Stock Exchange
  • 1997
    • First Egyptian bank to link to SWIFT via CITA
    • Concludes first and largest Euro-syndicated loan (USD 200 million)
    • Becomes first private sector bank with investment rating (after Luxor incident), rated ‘BBB -’ by Fitch IBCA
  • 1998
    • Rated ‘BBB -’ by S&P
    • First bank to link its database to that of Misr Clearing, Settlement & Deposit Company
    • First Egyptian bank to form a Board of Directors Audit Committee
    • First Internal Audit Department to be independent
    • One of the first Egyptian banks to establish a Custody Department
    • One of the first Egyptian banks to establish a brokerage arm (CIBC)
  • 2000
    • Hires first two Certified Bank Auditors (CBA)
  • 2001
    • First Egyptian bank to register its shares on the New York Stock Exchange (NYSE) in the form of American Depository Receipts (ADR) Level 1 program
    • First bank to introduce FX cash services for five currencies through ATM
  • 2004
    • Introduces Heya, the first credit card on the market to acknowledge women’s financial independence
  • 2005
    • Only bank in Egypt to be awarded the JP Morgan Quality Recognition Award, receiving the a annually through to 2012
    • Launches Osoul, its first money market fund in local currency
    • First bank in Egypt to launch a page on Bloomberg for local debt securities
  • 2006
    • First to adopt a pricing policy according to client risk rating as a step forward to abide by Basel II requirements
    • First Egyptian bank to execute a EGP 200 million repo transaction in the local market
    • First and largest Egyptian bank to provide securitization trustee services
  • 2007
    • Only Bank in Egypt chosen by UNIFEM and World Bank to participate in the Gender Equity Model (GEM)
  • 2008
    • FFirst bank to use Value at Risk (VaR) for trading and banking book for internal risk management requirements, despite there being no regulatory requirements
  • 2009
    • First regional bank to introduce unique concierge and Mastercard emergency services
    • Only Egyptian bank recognized as ‘Best Bank in Egypt’ by four publications ­­— Euromoney, Global Finance, EMEA Finance, and The Banker — in the same year
  • 2010
    • First Egyptian bank to establish a global transaction service department
    • Only bank in Egypt able to retain one of the top two positions in the primary and secondary markets for Treasury Bills and Treasury Bonds
    • First and only Egyptian bank to enforce business continuity standards
    • CIB Foundation becomes the first in Egypt to have its annual budget institutionalized as part of its founding institution’s bylaws, as CIB shareholders unanimously agree to dedicate 1% of net annual profit to the Foundation
  • 2011
    • CIB-TCM becomes pioneer in trading in almost 114 new and unconventional currencies
  • 2012
    • First Egyptian bank to officially establish a Sustainable Development Department
  • 2013
    • First Egyptian bank to receive JP Morgan Elite STP Award
    • First Egyptian bank to upgrade its ADRs to trade on the OTCQX platform
    • First Egyptian bank to sign an agreement with Bolero International, joining the Bolero multi-bank service for guarantees
    • First Egyptian bank to establish an ERM framework and roadmap, endorsed and monitored by the board
    • Becomes first Egyptian bank to use RAROC
    • Breaks the record for the highest number of blood donors in a corporate office in a single-day campaign in Egypt through the Triple Effect initiative inaugurated by the CIB Foundation
    • First Egyptian bank to introduce an interactive multimedia platform that offers customers the option of interacting with call center agents over video calls
  • 2014
    • First Egyptian bank to sign an agreement with Misr for Central Clearing, Depository & Registry to issue debit cards for investors to collect cash dividends
    • Launches first co-brand credit card, Mileseverywhere, with national carrier Egyptair
    • Introduces the first interactive social media platform in the Egyptian banking industry, available 24/7 to handle all customer queries
    • Becomes the first bank in Egypt to sponsor the establishment of intensive care units in Sohag through the CIB Foundation, donating EGP 6 million to outfit the Pediatric Department at Sohag University Hospital with cutting-edge equipment
    • The first block trading transaction on the EGX takes place when Actis sells its 6.5% stake in CIB to Fairfax
  • 2015
    • First Egyptian bank to successfully pass external quality assurance on its Internal Audit Department
    • Launches roadside assistance services in Egypt
    • Generates highest FX income in 10 years among private-sector banks in Egypt
    • First Egyptian bank to recognize conduct risk and establish a framework for it, despite the lack of regulatory requirements
  • 2016
    • Launches mobile banking application, which includes various banking services, and offers clients numerous features to conveniently manage their accounts
    • Becomes the first Egyptian bank recognized as an active member in the globally renowned United Nations Environmental Program – Financial Initiative
    • Wins the Socially Responsible Bank of the Year 2016 award from African Banker
    • Recognized for the first time for several awards, including
      • Best Bank in Egypt Supporting Women-Owned and Women-Run Businesses by the American Chamber of Commerce in Egypt
      • Two awards in Achievement in Liquidity Risk and Operational Risk for the Middle East and Africa by Asian Banker
      • Best Retail Risk Management Initiative in 2016 by Asian Banker
      • Most Active Issuing Bank in Egypt in 2015 by the European Bank for Reconstruction and Development
      • Middle East Most Effective Recovery 2016 by BCI
  • 2017
    • Named ‘World’s Best Bank in the Emerging Markets’ by Euromoney, making it the first bank in the Middle East and Africa to win this prestigious award
    • First Egyptian bank be named ‘Best Bank in the Middle East’ by Euromoney
    • Ranks first on the EGX’s sustainability index (S&P/EGX ESG) for the fourth year in a row since 2014
    • Becomes the only Egyptian bank ranked on the FTSE4Good Sustainability Index
  • 2018
    • Named ‘World’s Best Emerging Markets Bank’ by Global Finance, the second consecutive year in which CIB has been awarded this title by an international institution; CIB is the first bank in Egypt and the Middle East to win this prestigious award
    • First Middle Eastern company to be analyzed in a case study conducted by the Leadership Institute of the London Business School; CIB was selected in recognition of its data-driven, human-centric approach to leading transformation in the face of macroeconomic challenges
    • Establishes CVentures, Egypt’s first corporate venture capital firm primarily focused on investing in transformational fintech startups and next-generation financial services platforms
    • Receives ISO22301:2012 certification for Business Continuity Management by PECB, a global provider of training, examination, audit, and certification standards, in partnership with EGYBYTE, a leader in the MENA market for IT service management
    • Ranks first on the EGX Sustainability Index for the fifth consecutive year