Commercial International Bank- Egypt (CIB) has topped the list of Forbes Global magazine for the top companies in the Arab World in 2015, a statement revealed.
The statement -released by CIB on Tuesday- said that CIB ,with its USD $6.3 billion market value and total assets of nearly USD $20 billion, to lead the list that included 19 Egyptian companies with a combined total market value averaging USD $25.4 billion, revenue of USD $15.1 billion, net profit of $2.1 billion and assets of USD $69.6 billion.
According to the statement, Forbes’ experts asserted that among the 10 financial markets of its list of the top companies in the Arab world for 2015; only Egypt and Morocco were able to rise over the past year by 30% and 5 %, respectively.
On other side, CIB Chairman and Managing Director Hisham Ezz Al-Arab said “the success of CIB in leading the 19 Egyptian companies in Forbes 2015 list is a strong indication that Egypt is moving in the right direction and that the Egyptian institutions are able to flourish no matter what are the circumstances, and that any improvement seen in Egypt will impact positively and directly on all institutions’ performance.”
Moreover, the sector of banks and financial services dominated the list of the strongest companies in the Arab world for 2015, with 78 participations which out-doubles the industrial sector that comes in the 2nd place with 35 companies, while the real estate and construction sector came third with 18 companies.