Commercial International Bank
One of Egypt’s largest private-sector banks, serving retail, corporate, institutional, and investment-banking customers.
Last updated October 16, 2026
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Overview
Commercial International Bank, commonly known as CIB, is an Egyptian banking group headquartered in Cairo. It is described as one of the country’s largest private-sector banks and is generally placed among Egypt’s five major banking institutions. The bank’s business covers core commercial banking activities, including services for individuals, businesses, institutions, and investors. Its Egyptian franchise is the center of the group, while its expansion into Kenya created a second operating market through the acquisition and subsequent renaming of Mayfair Bank. CIB was established in 1975 as Chase National Bank of Egypt. At formation, the institution was jointly owned by the National Bank of Egypt, which held 51%, and Chase Manhattan Bank, which held 49%. This structure gave the new bank a locally anchored ownership base combined with an international banking connection. The institution was created during a period in which Egypt’s financial sector was developing relationships with global banks and expanding the range of services available to commercial customers. The ownership and identity of the bank changed substantially during the late 1980s. In 1987, Chase Bank decided to sell its stake. The National Bank of Egypt increased its holding to 99.9%, and the institution adopted the name Commercial International Bank – Egypt. Over subsequent years, the National Bank of Egypt’s ownership declined through a series of public offerings, eventually reaching 18.7%. These offerings helped shift the bank toward a broader shareholder base and a more publicly traded ownership structure. A further ownership transition occurred in 2006, when a consortium led by Ripplewood Holdings acquired the National Bank of Egypt’s stake. In 2009, Actis acquired 9.1% of CIB, becoming the largest single shareholder at that point. Actis later reduced its position through transactions in 2014: it sold 2.6% through the Egyptian Exchange in March and transferred its remaining 6.5% stake to Fairfax Holding Company for Financial Services in May. These transactions marked another phase in the bank’s development as a major listed private-sector financial institution. CIB expanded its domestic banking footprint in 2015 by acquiring Citibank’s Egyptian shares and incorporating the acquired branches into its management. The transaction broadened the bank’s branch network and customer coverage in Egypt. In 2022, Abu Dhabi sovereign investment fund ADQ acquired a stake valued at approximately US$911.457 million, adding a substantial institutional investor to the bank’s shareholder base. The bank’s international expansion has focused on East Africa. In December 2019, CIB announced its intention to acquire Mayfair Bank in Kenya. Following regulatory and shareholder approvals in Kenya and Egypt, CIB acquired 51% of Mayfair Bank’s share capital for US$35 million in April 2020. In January 2023, CIB Egypt acquired the remaining 49%. The Kenyan institution subsequently changed its name to CIB Kenya, succeeding Mayfair CIB Bank Kenya Limited. CIB remains primarily identified with Egyptian commercial banking, although its Kenyan subsidiary gives it a regional presence. Its public profile has also been reflected in regional corporate rankings: Forbes Middle East placed it 28th on its 2025 list of the Middle East’s 30 Most Valuable Banks and 45th on its 2025 list of the Top 100 Listed Companies. These rankings indicate the bank’s continuing importance within Egypt’s private banking sector and the wider Middle Eastern financial-services market. CIB expanded its domestic banking footprint in 2015 by acquiring Citibank – Egypt’s shares and bringing the acquired branches under its management. The transaction strengthened the bank’s domestic branch and customer-service footprint and increased its presence in Egypt’s retail and commercial banking market. In April 2022, ADQ, an Abu Dhabi sovereign investment fund, acquired a stake in CIB valued at approximately US$911.457 million, adding a significant institutional investor to the bank’s shareholder base. The bank’s international expansion has centered on East Africa. On 3 December 2019, CIB announced its intention to acquire Mayfair Bank in Kenya. After regulatory and shareholder approvals in Nairobi and Cairo, CIB completed the purchase of 51% of Mayfair Bank’s share capital for US$35 million in April 2020. In January 2023, CIB Egypt acquired the remaining 49%, giving it full ownership. The Kenyan institution was subsequently renamed CIB Kenya, replacing the Mayfair CIB Bank Kenya Limited identity. CIB remains principally associated with Egyptian commercial banking, although its Kenyan subsidiary gives it a regional presence. Its public profile is also reflected in regional corporate rankings: Forbes Middle East ranked it 28th among its 30 Most Valuable Banks and 45th among its Top 100 Listed Companies in 2025. These rankings reflect the bank’s continued importance in Egypt’s private-sector banking sector and the broader Middle Eastern financial-services market.
History
Commercial International Bank was founded in 1975 under the name Chase National Bank of Egypt. Its original ownership was divided between the National Bank of Egypt, with a 51% interest, and Chase Manhattan Bank, with 49%. The ownership arrangement combined an Egyptian banking institution with an international banking partner and provided the foundation for the bank’s early commercial operations. In 1987, Chase Bank decided to sell its stake. The National Bank of Egypt subsequently raised its ownership to 99.9%, and the bank was renamed Commercial International Bank – Egypt. The National Bank of Egypt’s holding later declined through a series of public offerings, eventually reaching 18.7%. This process broadened the bank’s shareholder base and supported its development as a listed private-sector institution. In 2006, a consortium led by Ripplewood Holdings acquired the National Bank of Egypt’s shareholding. The ownership structure changed again in 2009, when Actis purchased 9.1% of CIB and became the largest single shareholder. Actis partially exited in 2014, selling 2.6% through the Egyptian Exchange in March. In May of the same year, it sold its remaining 6.5% stake to Fairfax Holding Company for Financial Services. CIB expanded its Egyptian operations in late 2015 by acquiring the shares of Citibank – Egypt through the Egyptian Exchange and bringing Citibank’s branches under CIB management. The transaction strengthened the bank’s domestic distribution platform and increased its presence in Egypt’s retail and commercial banking market. The bank subsequently attracted another major institutional investor. In April 2022, ADQ, an Abu Dhabi sovereign investment fund, acquired a stake in CIB valued at approximately US$911.457 million. The transaction became one of the notable ownership events in the bank’s modern history. CIB’s first clearly identified international expansion in the supplied reference material was in Kenya. On 3 December 2019, the bank announced its intention to acquire Mayfair Bank. After regulatory and shareholder approvals in Nairobi and Cairo, CIB completed the purchase of 51% of Mayfair Bank’s share capital for US$35 million in April 2020. In January 2023, CIB Egypt acquired the remaining 49%, giving it full ownership. The subsidiary was subsequently renamed CIB Kenya, replacing the Mayfair CIB Bank Kenya Limited identity. The bank is principally associated with Egypt, where it operates as a major private-sector commercial bank. Its activities span retail, corporate, institutional, and investment banking. Its Kenyan subsidiary adds a regional dimension, but the Egyptian operation remains the core of the brand. In 2025, Forbes Middle East ranked CIB 28th among its 30 Most Valuable Banks and 45th among its Top 100 Listed Companies, reflecting the institution’s standing in regional banking and listed-company rankings.
- 2025
Forbes Middle East regional rankings
[1]CIB was ranked 28th among Forbes Middle East’s 30 Most Valuable Banks and 45th among its Top 100 Listed Companies.
- 2023
Full ownership of Kenyan subsidiary
[1]CIB Egypt acquired the remaining 49% of the Kenyan bank and the institution adopted the CIB Kenya name.
- 2022
ADQ acquires a stake
[1]ADQ acquired a stake in CIB valued at approximately US$911.457 million.
- 2020
Acquisition of 51% of Mayfair Bank
[1]CIB completed the purchase of 51% of Mayfair Bank’s share capital for US$35 million after receiving the required approvals.
- 2019
Kenyan expansion announced
[1]CIB announced its intention to acquire Mayfair Bank in Kenya.
- 2015
Citibank Egypt acquisition
[1]CIB acquired Citibank – Egypt’s shares and incorporated its branches into CIB’s management.
- 2014
Actis reduces its CIB holding
[1]Actis sold 2.6% through the Egyptian Exchange and later transferred its remaining 6.5% stake to Fairfax Holding Company for Financial Services.
- 2009
Actis becomes largest single shareholder
[1]Actis acquired a 9.1% interest in CIB.
- 2006
Ripplewood-led consortium acquires National Bank of Egypt stake
[1]A consortium led by Ripplewood Holdings acquired the National Bank of Egypt’s shareholding in CIB.
- 1987
Renaming as Commercial International Bank – Egypt
[1]After Chase Bank sold its stake, National Bank of Egypt increased its holding to 99.9%, and the institution adopted the Commercial International Bank – Egypt name.
Products and positioning
A major Egyptian private-sector bank with a broad commercial-banking franchise, a significant listed-company profile, and an emerging regional presence through CIB Kenya.
Consumer banking
Retail banking
CIB’s retail-banking activities serve individual customers through personal banking relationships and branch-based services. The supplied reference material identifies the bank as a broad commercial institution, but does not provide a detailed list of individual retail products, fees, or eligibility requirements.
Business banking
Corporate banking
Corporate banking is a central part of CIB’s identity as a commercial bank. The business serves companies and commercial organizations with banking relationships and financing-related services. Specific facilities and product names are not detailed in the supplied reference material.
Institutional financial services
Institutional banking
CIB provides services to institutional customers as part of its wider banking franchise. The reference material does not specify the full range of institutional products, but identifies institutional banking as part of the bank’s broad operating scope.
Investment banking
Investment banking
Investment banking forms part of CIB’s diversified financial-services positioning. The supplied sources do not provide enough detail to enumerate particular advisory, underwriting, or capital-markets offerings.
Bank distribution · 2015
Branch banking
Branches are an important distribution channel for CIB. The 2015 acquisition of Citibank Egypt included the integration of Citibank branches into CIB’s management, expanding the bank’s domestic physical network.
Brand decisions
2023
Acquisition of remaining Mayfair Bank sharesM&ABackground
After acquiring a majority interest in 2020, CIB moved to obtain full ownership of its Kenyan subsidiary.
Action taken
CIB Egypt acquired the remaining 49% of the bank’s share capital.
Aftermath
The Kenyan institution became fully owned by CIB Egypt and adopted the CIB Kenya name.
2022
ADQ investment in CIBM&ABackground
CIB received a major investment from ADQ, an Abu Dhabi sovereign investment fund.
Action taken
ADQ acquired a stake in the bank valued at approximately US$911.457 million.
Aftermath
The transaction added ADQ as a significant institutional shareholder.
Value of acquired stake. US$911.457 million (April 2022)
2020
Purchase of a 51% stake in Mayfair BankM&ABackground
The planned Kenyan expansion required regulatory and shareholder approvals in both Kenya and Egypt.
Action taken
CIB paid US$35 million to acquire 51% of Mayfair Bank’s share capital.
Aftermath
CIB established a majority-owned Kenyan banking operation, later developed into CIB Kenya.
Purchase price. US$35 million (April 2020)
2019
Plan to acquire Mayfair BankM&ABackground
CIB sought to extend its banking operations beyond Egypt into the Kenyan market.
Action taken
The bank announced its intention to acquire Mayfair Bank in Kenya.
Aftermath
The proposed transaction led to CIB’s purchase of a majority stake in 2020 and full ownership in 2023.
2015
Acquire Citibank Egypt shares and branchesM&ABackground
CIB pursued an expansion of its Egyptian banking platform through the acquisition of Citibank – Egypt’s shares.
Action taken
CIB completed the acquisition through the Egyptian Exchange and brought all Citibank Egypt branches under its management.
Aftermath
The transaction strengthened CIB’s domestic branch and customer-service footprint.
Recent events
Kenya’s Central Bank approves CIB’s acquisition of a majority stake in Mayfair Bank[2]
Reported:
The Central Bank of Kenya approved Commercial International Bank’s acquisition of a 51% stake in Mayfair Bank on April 7, 2020.
Sources2 sources
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