Commercial International Bank – Ratings and Outlook Affirmed

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 (CIB or the Bank) at ‘B’ and ‘B’, respectively. At the same time, CI Ratings has affirmed the Bank’s BSR of ‘b’, CFS rating of ‘bb+’ and ESL of Moderate. The Outlook for the ratings remains Stable.

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 Bank during periods of economic stress – something that was important during the recent period in which the operating environment was particularly difficult. Financial metrics covering asset quality, liquidity and capitalisation are all currently…