Commercial International Bank (CIB) obtained the Egyptian Financial Supervisory Authority (EFSA) approval for the disposal of stake in CI Capital to a group of investors. CIB announced in December 1, 2016 the signing of a sale and purchase agreement with a group of non-related Egyptian and Gulf investors for the sale of a stake in CI Capital Holding. CIB’s earnings are not sensitive to the CI-Capital sale: management has said many times that capital gains will be used to add further provisions.
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