CIB Records USD 1 Billion in Net Profit in 2024 and Celebrates 50 Years of LeadershipA five-pillar strategy drives the bank’s growth in the coming yearsRegional digital leadership fueled by in-house technology and AIInnovative digital solutions empowering SMEsStrategic partnership with IFC to accelerate decarbonization in key sectorsCIB at the forefront of sustainable finance regionally and globallyToward a more resilient and sustainable future powered by innovation and digitalization

The year 2024 marked a significant milestone in the journey of Commercial International Bank (CIB), as it celebrated its 50th anniversary and achieved a historic breakthrough by recording USD 1 billion in net profit—becoming the first private-sector bank in Egypt to reach this figure.

Islam Zekry, Group Chief Financial Officer and Executive Board Member, outlined the bank’s strategic vision for the coming phase, based on five key pillars: modernizing operations, enhancing digital services, elevating the customer experience, expanding internationally in targeted markets, and embedding sustainability and resilience at the core of its operations.

Zekry affirmed that CIB’s strong performance in 2024 reflects the robustness of its financial foundations and the sustainability of its growth. He pointed out that the bank adopts a prudent funding strategy focused on short-term local currency deposits, which reinforces its stability in the face of changing economic conditions.

Digital Transformation: From In-House Development to Regional Leadership

Zekry added that CIB continues to lead Egypt’s banking sector in digital transformation through a fully integrated digital ecosystem developed internally. This includes the bank’s new mobile app, which delivers a smoother, more secure experience using biometric authentication, while offering seamless access to a wide range of digital financial products.

He noted that the bank is investing heavily in AI technologies—such as virtual assistants and smart chatbots—to enhance customer service, reduce branch dependency, and meet the expectations of younger, tech-savvy generations.

Empowering Small and Medium Enterprises (SMEs)

On supporting SMEs, Zekry explained that CIB is continuously developing digital platforms such as “CIB Business Online” and “CIB Growth,” informed by user behavior and market needs, to provide SMEs with accessible financing tools, streamlined loan applications, and stronger credit histories.

He stressed that these digital solutions help SMEs overcome traditional barriers and remain competitive in a rapidly evolving digital economy.

Sustainable Finance and Decarbonization

Regarding sustainable finance, Zekry highlighted CIB’s partnership with the International Finance Corporation (IFC) to launch a Decarbonization Program, following the bank’s successful issuance of Egypt’s first corporate green bond.

This collaboration targets high-emission sectors such as energy, real estate, and oil and gas, offering customized decarbonization pathways that enable clients to grow sustainably while mitigating climate risks.

Zekry emphasized that CIB plays a leading role at the regional and global levels through its membership in international initiatives such as GFANZ (Glasgow Financial Alliance for Net Zero) and the Net-Zero Banking Alliance, reinforcing the bank’s position as a pioneer in transition and sustainable finance across the Middle East and North Africa.

Looking Ahead

In conclusion, Zekry stated that CIB remains committed to executing its forward-looking strategy, centered on innovation, digital transformation, and sustainability—delivering long-term value to shareholders and clients while actively supporting Egypt’s economic competitiveness on the regional and global stage.