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Pin to quick picksCom.int.bk.regs Regulatory News (CBKD)

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Release concerning CIB's Rep Office in Ethiopia

18 Apr 2019 14:10

RNS Number : 6714W
Commercial Intnl Bank (Egypt) SAE
18 April 2019
 

Release

Cairo - April 18th, 2019

In line with the bank's expansionary plans in Africa, which comes in tandem with the sovereign direction towards the continent, CIB would like to announce that it has successfully established its commercial representative office in Addis Ababa, Ethiopia with the aim to strengthen the relationships with Ethiopian banks, promote Egyptian exports and gain market insights. This office represents the bank's first step to operate in one of the most attractive markets in the region, registering one of the highest GDP growth rates globally over the past years.

Commenting on this step, CIB's Chairman Hisham Ezz Al-Arab said, "We are very pleased with this initial step, and we're looking forward to the tremendous growth opportunities that Ethiopia offers, especially in light of the new changes that have been brought on by the new regime."

"There is huge growth potential where we see CIB adding value to its shareholders", Hussein Abaza, CIB's CEO and Board member has explained. "Business sentiment whether in terms of corporate lending or trade has been positive and we look forward to take our representative office to the next level where we can fully serve our existing and potential new customers.", he added.

End of Release

بيان

القاهرة في ١٨ أبريل ٢٠١٩

في إطار خطط البنك التوسعية في السوق الأفريقية وتماشيًا مع التوجه الاستراتيجي للدولة لزيادة التعاون مع الدول الأفريقية، يود البنك التجاري الدولي أن يعلن عن تأسيس مكتبه التمثيلي في مدينة أديس أبابا بأثيوبيا بهدف تعزيز العلاقات مع البنوك الأثيوبية ودعم التبادل التجاري من خلال الترويج للصادرات المصرية إلى أثيوبيا ودراسة السوق والفرص الاستثمارية المتاحة. ويعد هذا المكتب التمثيلي بمثابة حجر الأساس لتواجد البنك في أحد أكثر الأسواق الجاذبة بالمنطقة حيث سجلت أثيوبيا أعلى معدلات للنمو الاقتصادي على مستوى العالم في السنوات السابقة.

وتعليقاً على إنشاء المكتب التمثيلي، قال هشام عز العرب رئيس مجلس إدارة البنك التجاري الدولي "نحن سعداء بهذه الخطوة الأولى للتواجد الإقليمي لمصرفنا ونتطلع لفرص النمو الواعدة التي يوفرها السوق الأثيوبي خاصةً في ظل الإصلاحات التي قامت بها أثيوبيا مؤخراً".

وعقب حسين أباظة، المسئول التنفيذي الرئيسي وعضو مجلس الإدارة "نحن نؤمن بأن هناك الكثير من فرص النمو الواعدة في أثيوبيا والتي نتوقع أن يكون لها عائداً إيجابياً على مساهمي البنك التجاري الدولي. حيث يوفر مناخ الأعمال المزدهر في أثيوبيا سواءً على الصعيد التمويلي أو التجاري سبلاً جديدة لمصرفنا لإتاحة جميع الخدمات الممكنة للعملاء الحاليين والمستقبليين".

نهاية البيان

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