Commercial International Bank – Ratings Affirmed with a Stable Outlook

Commercial International Bank – Ratings Affirmed with a Stable Outlook

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Commercial International Bank ( Egypt) SAE ( CIB) at ‘B+’ and ‘B’, respectively. At the same time, CI Ratings has affirmed CIB’s Bank Standalone Rating ( BSR ) of ‘b+’, Core Financial Strength ( CFS ) rating of ‘bbb-’ and Extraordinary Support Level ( ESL ) of Moderate. The Outlook for the LT FCR and BSR remains Stable.

CIB is the largest listed Egyptian entity, and private sector bank, with a diversified shareholder base which includes many international investors. Due to its systemic importance, we expect that, in case of need, the Bank would receive a moderate degree of extraordinary support from the Egyptian authorities. However, both the BSR and LT FCR…