CIB agrees sale of stake in CICH

Commercial International Bank (Egypt) has agreed the sale of 71.94% of the share capital of CI Capital Holding for a total transaction value amounting to EGP683.4 Million, with a total company value of EGP950 Million.

This is in line with the bank's strategy to gradually exit from its subsidiaries and affiliated investments. The strategy, which was previously announced to the market, has been adopted in order to enable CIB to focus exclusively on its core banking activities and enhance its leading position in the market.