CIB Subdebt (IFC-39595)

Countries
  • Egypt
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 16, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
COMMERCIAL INTERNATIONAL BANK SAE
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Dec 20, 2017

Disclosed by Bank Nov 28, 2017


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Project Description
The project consists of a subordinated loan to the Commercial International Bank S.A.E Egypt (“CIB” or the “Bank”). This Tier 2 capital instrument is intended to add diversity to the Bank’s capital base and long-term growth prospects. Established in 1975 as a joint venture between Chase Manhattan Bank and the National Bank of Egypt, CIB is currently the leading private bank in the market, having a well-established franchise especially in the corporate segment, and it is also Egypt’s largest private bank by assets. The Bank offers The Bank offers comprehensive, wide-ranging financial products and services through a network of 194 branches and 6,474 employees, operating in all segments of Egypt’s banking sector: corporate, commercial, business banking, and retail wealth management, all of which are offered to customers through client-centric teams.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
Commercial International Bank Mr. Hossam Rageh Head of Financial Institutions Group +202-3747-2021 hossam.rageh@cibeg.com 21/23 Charles De Gaulle St., Giza - P.O. Box 2430 Cairo www.cibeg.com ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/