PROJECT

Projects

Summary of Investment Information

Project Number

49726

Company Name

COMMERCIAL INTERNATIONAL BANK SAE

Date SPI Disclosed

Oct 2, 2024

Country

Egypt, Arab Republic of

Region

Africa

Projected Board Date

Aug 8, 2024

Environmental Category

FI-1 - Significant

Status

Active

Last Updated Date

Apr 10, 2025

Department

Regional Industry - FIG Africa

Industry

Financial Markets

Previous Events

Approved : Aug 8, 2024
Signed : Sep 30, 2024
Invested : Apr 8, 2025

Sector

Commercial Banking - General

Project Description

  The proposed project consists of a Basel II compliant Tier II (B2T2) subordinated loan of up to US$150 million to Commercial International Bank (CIB or the Bank), a long standing IFC client, the third largest bank in Egypt and the leading private sector bank by total assets (the Project). The proposed loan will help maintain the Bank’s sound capital position as it goes through major macroeconomic adjustments and continues its expansion of its MSME portfolio, including WMSMEs. The loan will be coupled with a trade guarantee limit of up to US$50 million for supporting the Bank’s trade finance activities under IFC’s Global Trade Finance Program (GTFP).

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation