Commercial International Bank (Egypt) S.A.E. - S&P Global Ratings’ Credit Research

Commercial International Bank (Egypt) S.A.E.

Commercial International Bank (Egypt) S.A.E. - S&P Global Ratings’ Credit Research
Commercial International Bank (Egypt) S.A.E.
Published Oct 12, 2018
11 pages (4690 words) — Published Oct 12, 2018
Price US$ 500.00  |  Buy this Report Now

About This Report

  
Abstract:

Leading privately-owned bank in Egypt. Above-peer-average profitability and asset quality. Strong risk management and governance culture. High exposure to the sovereign. Weak capitalization. High-risk operating environment. Our stable outlook on Commercial International Bank (Egypt) S.A.E. (CIB) reflects that on the sovereign ratings on Egypt, as well as our expectation that the bank's financial profile and performance will remain relatively stable in the next 12 months. We would lower the ratings on CIB if we were to downgrade Egypt, due to the bank's marked exposure to the Egyptian government. We see a downgrade based on a worsening assessment of CIB's stand-alone factors as remote, as its stand-alone credit profile (SACP) is currently one notch above the sovereign rating. An upgrade over

  
Brief Excerpt:

... Our stable outlook on Commercial International Bank (Egypt) S.A.E. (CIB) reflects that on the sovereign ratings on Egypt, as well as our expectation that the bank's financial profile and performance will remain relatively stable in the next 12 months. We would lower the ratings on CIB if we were to downgrade Egypt, due to the bank's marked exposure to the Egyptian government. We see a downgrade based on a worsening assessment of CIB's stand-alone factors as remote, as its stand-alone credit profile (SACP) is currently one notch above the sovereign rating. An upgrade over the next 12 months would necessitate an upgrade of Egypt. This is because we would not rate Egyptian banks higher than the foreign currency sovereign rating on Egypt. We would upgrade CIB if we raised the sovereign rating by one notch, as we currently cap the ratings on CIB at the level of the sovereign rating....

  
Report Type:

Full Report

Ticker
CMIB@EY
Issuer
GICS
Diversified Banks (40101010)
Sector
Global Issuers
Country
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Commercial International Bank (Egypt) S.A.E." Oct 12, 2018. Alacra Store. Dec 18, 2018. <http://www.alacrastore.com/s-and-p-credit-research/Commercial-International-Bank-Egypt-S-A-E-2112820>
  
APA:
S&P Global Ratings’ Credit Research. (). Commercial International Bank (Egypt) S.A.E. Oct 12, 2018. New York, NY: Alacra Store. Retrieved Dec 18, 2018 from <http://www.alacrastore.com/s-and-p-credit-research/Commercial-International-Bank-Egypt-S-A-E-2112820>
  
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