Egypt’s CIB agrees to sell 10% of CI Capital

Egypt’s largest listed bank, Commercial International Bank (CIB) has agreed to sell 10 percent of its investment banking arm CI Capital to a local investor, CI Capital CEO Mahmoud Attalla said on Sunday.

CIB finalised a deal in March to sell about 75 percent of CI Capital to a group of Egyptian and Gulf investors in a deal worth about $40 million. Source: Reuters