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Egypt's CIB to raise up to $1bn to fund growthCommercial International Bank (CIB) will raise up to EGP8 billion ($1 billion) to fund expansion after its board backed the plan, Egypt's largest listed company said. The funds will be raised through local or international bon More… |
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Egypt's CIB net profit up 23pc in Q2Commercial International Bank, Egypt's largest listed lender, on Wednesday reported a 23 per cent rise in second quarter net profit after minority interest compared to the same period last year, it said in a statement. Second More… |
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CIB to buy Citi's Egypt retail businessCommercial International Bank (CIB) has agreed to buy Citigroup's consumer banking business in Egypt, the North African country's largest listed lender said on Tuesday. The deal will add 80,000 credit card holders to CIB&# More… |
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Egypt's CIB eyes $1.07bn capital boostCommercial International Bank, Egypt's biggest private bank by capital, said it will double its issued and paid-up capital to 5.90 billion Egyptian pounds ($1.07 billion) financed from its reserves. The shareholders will receive o More… |
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Actis buys 50pc stake in Egyptian bankActis, an emerging markets private equity specialist, said it has sealed a pact with a key investor to acquire a 50 per cent stake in Commercial International Bank (CIB), a leading bank in Egypt, for $244 million. Actis bought the stake fr More… |
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Global may face lawsuit from Egyptian lenderGlobal Investment House said on Monday it may face legal action from Egypt's Commercial International Bank in a dispute over an unsettled loan. Egypt's Commercial International Bank 'has decided not to join the rest of lenders More… |
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Egypt's CIB net profit jumps 35pcCommercial International Bank, Egypt's largest lender by market value, said on Wednesday second quarter net profit jumped 35 percent, beating analyst forecasts. The bank said it made 516 million Egyptian pounds ($97 million) in the three m More… |
