Commercial International Bank
BEST INVESTMENT BANK
Commercial International Bank has maintained its position as the leading bank in Egypt. Although it is not the country's biggest, it has continued to be the most profitable, producing twice as much income from a quarter of the assets that some of its rivals hold.
CIB is now the largest private sector bank in terms of profitability, market capitalization and loans, delivering record profits of almost E£506 million ($87.3 million).
In the past year CIB has also taken significant steps in its strategy for long-term regional growth. It has opened its first offshore office in Dubai, while it is also now listed on both the Abu Dhabi and Kuwait stock exchanges.
The bank is launching a division focusing directly on small and medium-size enterprises and has also established departments offering new corporate banking and trade finance services.
Citigroup has proved itself the outstanding investment bank in Egypt during the past year through its involvement in many of the most important transactions in the country.
The bank was the sole financial adviser for Orascom Construction Industries' acquisition of a controlling stake in Chakwal cement plant in Pakistan.