Commercial International Bank (Egypt) SAE: Update following ratings downgrade
Our credit view of CIB reflects its high interlinkages with sovereign's credit profile (given high government bonds exposures), overriding its strong capital, profitability and LC liquidityCommercial International Bank (Egypt) is a financial institution based in Egypt. Co. is engaged in the business of commercial banking. Co.'s principal activity is the provision of banking and financial services to private and corporate customers. Services provided include deposits, checking and savings accounts, credit cards, letters of credit, commercial, mortgage and personal loans, and custody of securities. Co. maintains branches throughout Egypt and Qatar. Co.'s principal shareholder is the National Bank of Egypt which maintains a 99.9% investment.
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