Commercial International Bank’s R atings A ffirmed with a Stable Outlook

Ref : EG01119CRA00-01 8 October 2 0 20

Commercial International Bank’s R atings A ffirmed 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 Ou tlook for the LT FCR and BSR remains Stable.

The Bank’s BSR is derived from a CFS rating of ‘bbb-’ and an Operating Environment Risk Anchor ( OPERA ) for Egypt of ‘b’. OPERA reflects the improved – although still high – risk sovereign profile of Egypt, as well as the adverse impact of Covid-19 on economic…