Commercial International Bank

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.

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.

1. 2025Forbes Middle East regional rankings

   CIB was ranked 28th among Forbes Middle East’s 30 Most Valuable Banks and 45th among its Top 100 Listed Companies.

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2. 2023Full ownership of Kenyan subsidiary

   CIB Egypt acquired the remaining 49% of the Kenyan bank and the institution adopted the CIB Kenya name.

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3. 2022ADQ acquires a stake

   ADQ acquired a stake in CIB valued at approximately US$911.457 million.

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4. 2020Acquisition of 51% of Mayfair Bank

   CIB completed the purchase of 51% of Mayfair Bank’s share capital for US$35 million after receiving the required approvals.

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5. 2019Kenyan expansion announced

   CIB announced its intention to acquire Mayfair Bank in Kenya.

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6. 2015Citibank Egypt acquisition

   CIB acquired Citibank – Egypt’s shares and incorporated its branches into CIB’s management.

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7. 2014Actis reduces its CIB holding

   Actis sold 2.6% through the Egyptian Exchange and later transferred its remaining 6.5% stake to Fairfax Holding Company for Financial Services.

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8. 2009Actis becomes largest single shareholder

   Actis acquired a 9.1% interest in CIB.

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9. 2006Ripplewood-led consortium acquires National Bank of Egypt stake

   A consortium led by Ripplewood Holdings acquired the National Bank of Egypt’s shareholding in CIB.

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10. 1987Renaming as Commercial International Bank – Egypt

    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.

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11. 1975Establishment as Chase National Bank of Egypt

    The bank was established with National Bank of Egypt holding 51% and Chase Manhattan Bank holding 49%.

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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.

• Retail bankingConsumer 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.

• Corporate bankingBusiness 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 bankingInstitutional financial services

  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 bankingInvestment 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.

• Branch bankingBank distribution2015

  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.

• 2023Acquisition of remaining Mayfair Bank sharesM&A

  After acquiring a majority interest in 2020, CIB moved to obtain full ownership of its Kenyan subsidiary.

  What changed. 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.

  Source
• 2022ADQ investment in CIBM&A

  CIB received a major investment from ADQ, an Abu Dhabi sovereign investment fund.

  What changed. 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)

  Source
• 2020Purchase of a 51% stake in Mayfair BankM&A

  The planned Kenyan expansion required regulatory and shareholder approvals in both Kenya and Egypt.

  What changed. 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)

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• 2019Plan to acquire Mayfair BankM&A

  CIB sought to extend its banking operations beyond Egypt into the Kenyan market.

  What changed. 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.

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• 2015Acquire Citibank Egypt shares and branchesM&A

  CIB pursued an expansion of its Egyptian banking platform through the acquisition of Citibank – Egypt’s shares.

  What changed. 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.

  Source

• 2025CIB appears in Forbes Middle East 2025 bank ranking

  Forbes Middle East ranked CIB 28th on its 2025 list of the region’s 30 most valuable banks.

  Other
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• 2025CIB appears in Forbes Middle East 2025 listed-company ranking

  CIB ranked 45th on Forbes Middle East’s 2025 list of the Top 100 Listed Companies.

  Other
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• 2023CIB acquires the remaining shares of its Kenyan bank

  CIB Egypt acquired the remaining 49% of the Kenyan institution formerly known as Mayfair Bank, completing its ownership of the subsidiary.

  M&A
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• 2023Kenyan subsidiary adopts the CIB Kenya name

  Following CIB Egypt’s acquisition of the remaining shares, the Kenyan bank changed its name to CIB Kenya, succeeding Mayfair CIB Bank Kenya Limited.

  Other
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• 2022ADQ acquires a stake in Commercial International Bank

  Abu Dhabi sovereign investment fund ADQ acquired a stake in CIB valued at approximately US$911.457 million.

  M&A
  Source
• 2020CIB completes acquisition of 51% of Mayfair Bank

  After receiving regulatory and shareholder approvals in Kenya and Egypt, CIB paid US$35 million for 51% of Mayfair Bank’s share capital.

  M&A
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• 2019CIB announces intention to acquire Mayfair Bank in Kenya

  Commercial International Bank announced plans to acquire Mayfair Bank, establishing the basis for its expansion into Kenya.

  M&A
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1. Commercial International Bank