Best bank: Commercial International Bank
Commercial International Bank (CIB) has maintained its position as the bank to beat in Egypt during the review period.
The bank’s retail strategy has been dual-pronged under CEO Hussein Abaza, focusing on the retail and small and medium-sized enterprise sectors as the country pushes financial inclusion and the opportunity posed by non-resident Egyptians (NREs).
Profit before tax was E£4.17 billion ($87 million) last year, a 74% increase on 2022.
For the domestic retail and SME segment, the bank has worked to leverage its large base of non-borrowing SME customers by cross-selling different lending programmes and leveraging strong referrals.
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