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CIB inaugurates electronic Corporate Payment System

The Commercial International Bank (CIB) has inaugurated the first centre to pay custom fees and sales taxes electronically in the “Goods village” at Cairo international airport with a system called corporate payment system (CPS). It is planned to serve businessmen and large sized companies, said the head of customs authority Mohamed El-Salhawy. Businessmen and large …

Sara Abou Bakr

CIB and EFG-Hermes take over one-third of Tuesday’s trading

By Islam Serour Commercial International Bank (CIB) and Hermes Financial group represented one-third of the total market turnover on Tuesday, after two weeks of stability. The CIB stock witnessed active turnover due to deals by foreign institutions, and closed out at EGP 28.5 after exceeding the EGP 28 barrier, scoring a 1.3 percent increase. In …

Daily News Egypt

Egypt’s CIB says 2011 net profit fell 20.1 pct

By Reuters CAIRO: Commercial International Bank (CIB), Egypt’s biggest private bank by assets, said on Wednesday its consolidated net profit fell 20.1 pct in 2011 to LE1.62 billion Egyptian pounds ($268.4 million). The decline in profit was “primarily driven by much higher provisions” taken “as a pre-emptive measure to cope with the ongoing economic upheaval …


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