Commercial International Bank – Ratings and Outlook Affirmed
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Summary
Ref: EG01123 CRA 00-01 8 May 202 4
Commercial International Bank – Ratings and Outlook Affirmed
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has af firmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Commercial International Bank (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 ‘bb+’, and Extraordinary Support Level ( ESL ) of Moderate. The Outlook for the LT FCR and BSR remains Negative.
CIB is the largest listed Egyptian entity and private sector bank, with strong retail and corporate franchises and a diversified shareholder base which includes many international investors. Key credit strengths include a strong management team with a good track record of being able to successfully manage the…