Commercial International Bank, the largest private-sector bank in Egypt , announced that it will sign an agreement with the Finance Corporation (IFC) to provide the bank with a subordinated loan of US$ 100 million.
The bank added in statement that the subordinated loan qualifies as tier II of the banks’ capital base under the recently modified regulations of the Central Bank of Egypt (CBE), and has a term to maturity of 10 years.
Again, the bank stressed that said subordinated loan will not cause any dilution of equity and will enhance CIB’s already strong capital ratio from 18.05% to 19.10%, thus, hedging the Bank against any potential mismatches between assets and equity, as well as supporting CIB’s future growth plans.