YEARS 2015 is a very special year for CIB as it marks the 40th anniversary of the Bank’s founding. The pages of this year’s annual report will walk you through the myriad milestones we have crossed throughout four decades of banking excellence. When moving ahead into the future, it is important to look back at the history, successes, and achievements that have brought us to the place we stand today, to gain a clearer perspective not only on what we have become, but on how we managed to get there. YEARS MAHMOUD SHEHATA MAHMOUD NEVIEN IBRAHIM M. EL DESSOUKY THANK YOU MAMDOUH REFAAT IBRAHIM ATOUT NIHAL RADY ABOU EL EZZ MANAL ALI ABDEL KADER EL BASSEL OMAIMA MOHAMED SOLIMAN Over the years and in every annual report, our senior to extend our profound appreciation to the employees MANAL FAYEK FRANCIS OMAYMA EID management team and Board of Directors (BoD) express who have been a part of our establishment for more than MIRANDA MICHAIL INDRAWIS RAFIK MOHAMED ABDEL KHALIK MADKOUR their gratitude to CIB employees for their commitment, hard 30 years, those who have not only lived through the Bank’s MOHAMED ABD EL AZIZ MOHAMED EL TOUKHY RANDA MOHAMED ATEF AHMED AFIFI work, and innovation. We truly believe that our employees transformation but have been an active and intrinsic part of MOHAMED AHMED EZZ EL DIN A.HAMID RAWYA MOHAMED ASAAD EL SOHAGI are the backbone of our success as an institution, and it, passing their knowledge down to generations. To them, MOHAMED EL KILANY HAGAG SAHAR MOHAMED IMAM we thank each and every member of our team for their we say THANK YOU. You have, without a doubt, been part MOHAMED FATHI YOUSSEF SAMIA EZZ EL ARAB ABDEL NASSER continuous dedication. As we commemorate 40 years of and parcel of CIB’s successes through your determination, MOHAMED HISHAM SOBHY SHAABAN KADRI AHMED IBRAHIM banking excellence, we would like to take this opportunity tireless efforts, and loyalty. MOHAMED RAGHEB A.BARY SHAMS SHAFIK HUSSEIN M. DAWOUD MONA ABD EL MALEK BEDROUS SHERIF ALY EL ADAWY MONA MOHAMED ABOU YOUSSEF SHERIF MOHAMED ABDEL WAKIL GABER MONA MOHAMED KAMAL ABDEL KHALEK SHERIF OMAR ISMAIL MOSTAFA AHMED METWALY HASSAN SHERINE MOHAMED HAMED NABIL NAYER NASHED WAFAA MOHAMED AHMED NADIA MOSTAFA HOSNY YEHIA MOSTAFA KAMEL NAWAL ABDEL ALEEM SAYED AHMED We would like to extend our appreciation and gratitude to Abdallah served from 1983 to 1985. Mr. Ahmed Ismail the Chairmen, Board Members. and Board Secretaries was CIB’s first Chairman, serving from 1986 until 1988. who served the Bank throughout its history. They have Mr. Mahmoud Abdel Aziz occupied the position from undoubtedly played a fundamental role in shaping the 1989 to 2002. Mr. Hisham Ezz Al-Arab assumed his role strategy and direction that have led CIB to where it is today. as Chairman mid-2002 and continues to serve the Bank In 2012, CIB held a celebration for more than 160 employees who had spent more than 25 years at the Mr. Ali Dabbous was Chase National Bank’s first to this day. Bank in a celebration titled “25 Years of Excellence.” Chairman, serving from 1975 to 1982. Mr. Mahmoud Ali Dabbous Mahmoud Mansour Helal Nasser El Kady Mohamed Fakhry AlAssy Ahmed Wagdy Ibrahim Mohamed Ashmawy Youssef Allouba Kazem Hassan Barakat Sahar El Sallab ABD EL HAMID ALY ABD EL HAMID HANY HELMY ISKANDAR KALDAS Griffen Brant Abd El Salam Abd El Hakam Khalil Dr. Nadia Makram Ebeid ABIR AHMED KANDIL HASSAN ABBAS HASSAN G. H. Newburt Mahmoud Abdel Aziz Mohamed Hisham Ezz Al-Arab ABLA ADEL KHAIRY HASSAN KHALIL Hamed Moustafa El Ghamaz* Ahmed Kamal Shawky Mohamed Hany Seif El Nasr ABUL NAGA IBRAHIM HASSAN MAHMOUD IBRAHIM John K. Sharlton Adel Mostafa El Haddad Timothy Collins ADEL ABDEL HAMID MOHAMED MOSTAFA SHAABAN HASSAN SOLIMAN OSMAN SOLIMAN William W. Flanz Sayed Mostafa Kamar Lucio Noto AHMED IBRAHIM SAAFAN IBRAHIM ABD EL MOHSEN Abdel Ghani Gameh Adel Abdel Chafi El Labban Robert Willumstad ALY SAMY ABOU HUSSEIN IHAB NEGM EL DIN SOLIMAN Roger L. Crevier Ahmed Mahmoud A. Rouchdy Maha S. El Shahed* AMAL IBRAHIM NOUR EL DIN IMAN EL DAWOODY SHAHBOU Dalal El Kashef* Afaf Ismail Maged Essam El Wakil AMANY YOUSSEF KHOLOUSY IMAN M. ABD RABO Kamal Zaky Abou El Eid Mohamed Samy El Halawany Walid Shash AMR ALY SAID IMAN MOKHTAR MAHMOUD ATTEYA Ahmed Soliman Hazzah Ahmed Diaa El Din Maysa Abou Bakr* AMR MOHAMED EL TAHER MOSTAFA IMAN OMAR EL MASRY Peter J. Nice Fahd Rashid El Ibrahimy Frank G. Wisner ANWAR SHAHIN IMAN SAFWAT EL SHEIKH Donald Boudreau Samir Ibrahim Fawzy Dr. Medhat Hassanein AYMAN MOSTAFA MAAMOUN EL REIDY INAS MOHAMED HOSNY ABBAS Ali N. Chahine Dr. Abdel Khalek Allam Paul Fletcher AZIMA EL SAYED GABR KARAM FAHMY RAWASH Mahmoud H. Abdallah Abbas Samaha Hisham Ramez Abdel Hafez DAWOOD SOLIMAN DAHAB KHALED ABDEL WAHAB DAOUD James E. Lewis Fadel Ibrahim Taman Jawaid Mirza DINA ABDEL SALAM EL HAMOULY KHALED MOHAMED ALY NEGM Trichard H. Buckley Dr. Rokia Riad* Dr. Sherif Kamel FAHMY A. FATTAH IBRAHIM MAGDA MAKRAM Hughlyn F. Fierce Dr. William Mikhael Yasser Hashem GAMAL HASSAN AHMED ABOU NAAMA MAGDY ABDEL MONEIM MOHAMED FATTOUH Abdel Karim M. Abdel Hamid Fathi Ismail Wali Mark Richards GEORGE FAWZY BEKHIT MAHA SAID EL SHAHED Dr. Mohamed A. Abdella Couns. Mahmoud Fahmy Bijan Khorsowshahi GIHAN MOHAMED HUSSEIN EL SAYYAD MAHMOUD AHMED EL HODEIBY Ahmed Ismail A. Ismail Mohamed Abdel Monem Roushdy HALA MOHAMED ABDEL HAMID MAHMOUD AHMED IBRAHIM EL KHOULY HALA MOHAMED EL ERAKY MAHMOUD HANAFY AHMED * Secretary to the Board YEARS CONTENTS Pioneering AchieVemenTS • First joint venture • Becomes first private sector • After 12 years in a joint venture, on 15 June • First Egyptian commercial • CIB wins Euromoney’s ‘Best Bank • First bank in Egypt • First Egyptian bank to • CIB becomes first private sector bank with bank in Egypt bank to create a dedicated Chase Manhattan divested its stake in the bank to arrange debt swap in Egypt’ award for six consecutive to connect with the have a GDR program on investment rating (after Luxor incident) CIB: AN Introduction 02 2015 IN Review 24 was Chase division providing 24/7 banking Bank, based on a decision to reduce its transactions years until 1998 international SWIFT London Stock Exchange (‘BBB -‘ by S&P) Our History in Numbers 04 National Bank services to shipping clients, with minority holdings worldwide. • CIB becomes first bank to network • First bank to link its database to that of Misr Institutional Banking 26 primary focus on business in • The Bank’s name was effectively changed to launch smart card center Clearing, Settlement & Deposit Company (MCSD) Our History 06 Global Customer Relations 38 the Suez Canal Commercial International Bank (CIB) in Egypt • First Egyptian bank to form Board of Directors What We Do 06 Consumer and Business Banking 40 Audit Committee A Snapshot Of Our Business 06 COO Area 52 Outperforming is Our Strategy 08 Finance Group 57 Key Facts 09 Human Resources 58 1975 1977 1983 1987 1989 1991 1993 1994 1996 1997 1998 Key Financial Highlights 10 Risk Group 60 Chairman’s Note 12 Compliance 70 • First Egyptian bank to link to SWIFT Board of Directors’ Report 14 Internal Audit 71 • Bank concludes Egypt’s largest IPO for a domestic via CITA • First Internal Audit department to be • CIB was selected by BSP to bank on 12 September, with oversubscription rate of • CIB concludes first & largest Euro- independent • Becomes the first Egyptian become its agent in Egypt 150%, selling 1.5 million shares in a span of 10 days syndicated loan (USD 200 mn) • One of the first Egyptian banks to establish bank to introduce an • Head office moved • CIB remains the only bank and generating EGP 390 mn in proceeds, using no • Becomes first private sector bank a custody department Institutional Banking Risk to the Nile Tower that offers this service to underwriters but relying instead on the bank’s own with investment rating (after Luxor • One of the first Egyptian banks that Rating Model building in Giza airline passengers marketing and placement capabilities for share sales incident) (‘BBB -‘ by Fitch IBCA) established a brokerage arm (CIBC) • First Egyptian bank to establish a GTS department • CIB becomes first regional bank • First bank to use Value at Risk (VaR) for • CIB was the first to adopt a pricing • Only bank in Egypt to be • Heya becomes the first • First two Certified Strategic Subsidiaries 72 Sustainability 82 • Only bank in Egypt able to retain one of the top two to introduce unique concierge & trading & banking book for internal risk policy according to the client risk awarded JP Morgan Quality credit card on the market Bank Auditors (CBA) CI Capital Holding 74 Corporate Governance 84 positions in the primary & secondary markets for MasterCard emergency services management requirements, despite rating as a step forward to abide by Recognition Award starting 2005 to acknowledge women’s Egypt Factors 76 Executive Management 90 Treasury Bills & Treasury Bonds there being no regulatory requirements Basel II requirements up until 2012 financial independence • CIB is the first and only local bank in Egypt to begin Commercial International Life Navigating New Waters 92 enforcing Business Continuity Standards Insurance Company (CIL) 78 CORPLEASE 79 2010 2009 2008 2007 2006 2005 2004 2001 2000 Falcon Group 80 • CIB Foundation becomes the first in Egypt to have its • Only Egyptian bank recognized • CIB was the first bank in Egypt • First Egyptian bank to register its shares on New annual budget institutionalized as part of its founding as ‘Best Bank in Egypt’ by four • Only Bank in Egypt chosen to execute EGP 200 mn R’epo • CIB launches