CIB made it to Forbes’ 2020 top 100 firms in the Middle East
Commercial International Bank, a privately-owned bank listed on the Egyptian Exchange, made it to Forbes’ 2020 top 100 firms in the Middle East.
CIB, occupying the 28 position in Forbes’ ranking, saw its total assets rise from USD19.1bn in 2019 to USD24.5bn in 2020. CIB’s marketing value is estimated at USD5.5bn.
Up to 46 banks and financial institutions topped Forbes’ list against 9 manufacturing firms and 8 real estate and telecommunications each.
Represented by 33 firms, Saudi Arabia topped Forbes’ ranking. Next came the United Arab Emirates with 21 firms, and lastly Qatar with 18 firms.
In a statement issued by CIB, the bank said that its inclusion among Forbes’ ranking adds up to a long list of world awards testifying its resilience.
CIB received Global Finance’s 2020 top bank award in Egypt owing to its robust financial resources and a business model that focuses on clients.
“Forbes’ ranking testifies to the fact that the bank can cope with Egypt’s changing economic conditions in line with nature of the emerging markets,” said CIB’s chairman and managing director Hisham Ezz El-Arab.
