Cib - Commercial Intermational Bank (formerly Citi Bank)
Homepage http://www.cibeg.com
LinkedIn Profile https://linkedin.com/company/ci***gyp***
HQ Location
Egypt , Giza Governorate, Omar Al Khayam:364C+85G, Omar Al Khayam, Zamalek, Cairo Governorate 4270103, Egypt
Commercial International Bank was established in 1975 as a joint venture between the National Bank of Egypt (NBE, 51%) and the Chase Manhattan Bank (49%) under the name "Chase National Bank of Egypt”. Following Chase's decision to divest its equity stake in 1987, NBE increased its shareholding to 99.9%, changing the Bank’s name to Commercial International Bank (Egypt) S.A.E. NBE’s stake gradually decreased through several public offerings till reaching 18.7%. In 2006, a Consortium led by Ripplewood Holdings acquired NBE stake. In July 2009, Actis, a leading emerging markets private equity firm, invested US$ 244 million to get shares in CIB, acquiring hence 50% of the Ripplewood Holdings Consortium’s stake. Five months later, Ripplewood sold its remaining 4.7% stake over the open market, marking the successful transition of strategic partnership to be with Actis, who then became CIB’s largest shareholder with a 9.1% stake. In March 2014,Actis sold a portion of its holding, representing 2.6% of the Bank’s total
Financial Services and Banking
Companies in the financial affairs and banking industry provide financial services such as deposits, lending money, investing funds, issuing credit cards and processing payments. They advise clients on financial matters including retirement planning and risk management strategies.
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