The Central Bank of Egypt has approved a request from the Commercial International Bank to increase its foreign investors' stake by five percent. Foreign investors can now own up to 30 percent of the bank's issued and paid in capital, reported CASE.
CIB is Egypt’s leading private commercial bank with currently 40 branches nationwide, total assets of $3.62 billion and total shareholders’ equity of $300 million as of March 31, 2003. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
