Commercial Intnl Bank (Egypt) SAE CIB obtaining Long term loan from IFC
01 10월 2024 - 10:00PM
RNS Regulatory News
RNS Number : 5079G
Commercial Intnl Bank (Egypt) SAE
01 October 2024
Press Release concerning CIB
obtaining Long term loan from IFC
October
1st, 2024
CIB is pleased to announce the signing
of an agreement with the International Finance Corporation (IFC)
for a loan facility totaling USD 150 million, which qualifies as
Tier II capital and has a maturity period of 10 years.
The loan comes in line with the Bank's
proactive capital management strategy, as both the Executive
Management and Board continue to seek and pursue diverse options to
maintain a resilient capital base that is less vulnerable to
external influences. Additionally, the agreement reflects the
long-standing partnership between the two institutions and
highlights IFC's ongoing commitment to the Egyptian financial
sector, as well as its recognition of CIB's leadership as Egypt's
largest and most profitable private sector bank.
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