From Vision to Impact: Commercial International Bank’s (CIB) Contribution to Economic Progression and Social Responsibility - An Interview with CIB’s Institutional Banking CEO, Mr. Amr El-Ganainy

Egypt’s leading private sector Bank, Commercial International Bank (CIB), has established itself as a pillar of the country's financial sector. With a remarkable track record of achievements, a steadfast commitment to the market and the nation as a whole, CIB continues to shape Egypt's economic landscape. He Magazine is honored to have the country’s industry-leading Bank, CIB, sponsor its upcoming 25th Anniversary ceremony which reflects the Bank’s constant commitment to community engagement. As a trusted financial institution, CIB recognizes the significance of supporting and celebrating achievements in various sectors. Recently, He Magazine was able to interview CIB’s Institutional Banking CEO, Mr. Amr El-Ganainy, a prominent figure within the banking industry, where he shared valuable insights into Bank’s operations and vision. From their stance on small to medium businesses to their emphasis on children's health and expansion into Africa, El-Ganainy shed light on CIB's vision for growth, social responsibility, and favorable prospects for Egypt's economy.

Empowering Small to Medium Businesses:

CIB acknowledges its place as a vital contributor to Egypt's economy. As a Bank with a substantial market share, El-Ganainy understands that “the larger you grow in the market, the more responsibility you bare and the more you become involved in the nation’s economy.” Thus, stems CIB’s reputation as a Bank that emphasizes dealing with small to medium businesses. A significant portion of the Bank's loans are directed toward start-up businesses and business banking, demonstrating their commitment to supporting entrepreneurial ventures and fostering economic growth. When asked how long it took to establish this practice, El-Ganainy acknowledged, “It took us time, but we were able to accomplish it; thankfully, due to God, we have reached our target.” Over the years, CIB has constantly demonstrated its commitment to supporting small to medium-sized businesses; driving entrepreneurial ventures; and promoting business banking; solidifying its position as a mentor in Egypt's economic establishment. Such an approach is beneficial as it spotlights how CIB is keen on embracing the population’s unbanked segment. Explained El-Ganainy, “With a focus on reaching individuals who have not previously engaged with traditional banking services, CIB's commitment to financial inclusion has successfully brought people from the grey economy into the formal system, thus, integrating them into the fabric of the country's economy.” Including more individuals in the formal banking system positively impacts the country. It expands the financial system's participant base, enabling better assessment of economic activity and informing policy decisions. Access to financial services, especially credit, supports entrepreneurship as well as, business growth, driving job creation and productivity. It further promotes savings, investments, and economic stability, and strengthens consumer’s confidence. This goes a long way in facilitating more trade, business relationships, and foreign investment, contributing to overall economic growth and prosperity.

Maintaining such a platform can be strenuous for even the largest of Banks; when asked how CIB can continue to support such a policy for small and medium businesses, El-Ganainy highlighted, "We have implemented unbreakable policies since my early days at the Bank. Upholding these policies has been a fundamental principle guiding our operations. In today's landscape, establishing a strong foundation and independence are paramount. We do not rely on external factors and remain committed to our unwavering policies. This commitment is the secret to our success, ensuring stability, consistency, and trust in our endeavors." He continued by praising each employee for their commitment to this initiative and their role within the CIB family. "Our people are the driving force behind our operations, granting us the ability to seamlessly function. Their dedication and expertise are what make us a distinctive Bank. It is a point of pride that anyone who leaves CIB does so with their head held high, proudly proclaiming their affiliation with our organization. CIB is more than just a workplace; it is a second home, if not the primary one. This sense of belonging and loyalty is evident when speaking with any team member, showcasing the strong bond and commitment that defines our CIB family."

Prioritizing Children's Health:

CIB's commitment to Egypt’s future does not just stop at its business practices but further extends into its social responsibility practice. CIB has an unwavering dedication to children's health which has been at the forefront of the Bank's agenda since its establishment. El-Ganainy emphasized that the Bank has constantly allocated significant resources towards initiatives that aim to enhance children’s well-being. “From its inception, CIB has persistently prioritized its commitment to this specific cause," affirmed El-Ganainy. "After careful deliberation, it was agreed upon that children's health would be the primary focus of our philanthropic endeavors. We recognized the critical importance of addressing children’s healthcare needs, and it became our collective mission to direct our efforts towards this cause." By narrowing its focus and concentrating its resources, CIB achieved significant milestones. This strategic decision reflects the Bank’s commitment to making a tangible difference in the lives of young individuals and further solidifies its position as a socially responsible Bank. The Bank’s dedication is evident through the substantial financial investment made by the CIB Foundation. El-Ganainy revealed that the foundation channels 1.5% of the Bank’s total revenue into children’s health initiatives. With a clear vision for growth and expansion, CIB aims to further increase its contributions to its foundation. By allocating substantial resources and cultivating a culture of philanthropy, CIB demonstrates its vow to make a difference and uplift the community it serves. Through its associated foundation, the Bank channels substantial funds into various programs and projects focused on improving children's health.

It is worth spotlighting the active involvement of the Bank’s employees in supporting this cause. CIB's workforce wholeheartedly embraces the Bank's mission, going above and beyond by voluntarily contributing a portion of their wages to the foundation. "The remarkable dedication of CIB's employees to the foundation is incredible," stated El-Ganainy. "It is awe-inspiring to witness the number of employees who voluntarily contribute a portion of their wages to support the cause. Their steadfast belief in the foundation's mission resonates deeply with their identity as members of the CIB family." This profound and personal investment demonstrates the employees' genuine compassion and their shared commitment to positively impacting these children’s lives. It reinforces a strong sense of community and purpose that pervades CIB, stimulating a culture of social responsibility.

Expansion into Africa:

CIB's expansion into Africa marks a significant breakthrough in the Bank's strategic vision for long-term growth and international influence. Declared El-Ganainy, “CIB is the first Bank to initiate this endeavor. We recognized the strategic significance of this move, and it served as a clear indication of the Bank's direction. While many consider this as the future, we firmly believe that it is the present, especially with the rapid advancement in technology and online banking. This is a reality that we all need to acknowledge. At CIB, we never make hasty decisions; all our actions are meticulously calculated. Our expertise in risk assessment sets us apart, and we take pride in our ability to make informed and strategic moves.” We started by acquiring a 50% stake in the Kenyan-based Mayfair Bank, then attaining 100% ownership of the Bank at this year's commencement, demonstrating our commitment to establishing a foothold within the African continent.

However, CIB's effort went beyond mere acquisition; they invested in the development of local talent and knowledge transfer. Through training and guidance, CIB empowered individuals in Kenya, equipping them with essential financial skills and expertise. The Bank's credit courses proved to be instrumental in augmenting the understanding of financial management among graduates, enabling them to effectively navigate the complexities within the financial landscape. This holistic approach to capacity building not only strengthened the skills of individuals but also contributed to the region's overall economic development. El-Ganainy, an instructor in the credit course, shared his insights into the program. “Financing goes beyond mere transactions in the market; it involves shaping people's perspectives and transforming their mindsets. Take a look at the individuals who have completed the credit course and observe the positive impact it had on their lives. We have even recruited some of them to work at our Bank in Kenya. Now, let us witness the potential of this course right here in Egypt and the profound changes it can bring.” The success of CIB's initiatives in Africa serves as an inspiration for similar programs in Egypt. The positive outcomes and impact observed in Kenya highlight the Bank's commitment to sharing knowledge and expertise for the Egyptian economy’s greater good. Based on their expertise and insights from their successful expansion into the African market, CIB is positioned to exemplify Egypt's commitment to strengthening collaboration with businesses across the continent.

Positive Outlook and Future Growth of the Egyptian Economy:

Despite the challenges faced, El-Ganainy remains optimistic about Egypt's economic future. "The significant effort we invested in developing our infrastructure laid the foundation for progress," stated the CEO. With a focus on infrastructure development, he highlighted the impact of establishing a solid foundation for sustainable progress. Investments in critical areas such as electricity, new neighborhoods, and infrastructure are vital for attracting domestic and foreign investors and serve as catalysts for economic growth. “That is the first thing any investor looks at,” he continued by emphasizing Egypt’s population. "Consider the consumer base of 104 million people in Egypt," emphasizing the immense potential for businesses operating in the consumer market. “There is nothing like it anywhere in the world,” he stated. With such a large population, Egypt presents an unparalleled market opportunity. He firmly believes that Egypt's strong consumer-driven market will continue to flourish, providing a solid foundation for businesses and the economy to thrive.

El-Ganainy’s confidence in overcoming current obstacles stems from the resilience and stability of the Egyptian banking system, sustained by the visionary leadership of the Central Bank’s Governor, Mr. Hassan Abduallah. "He has displayed exceptional strength and intelligence in navigating the current situation," praised El-Ganainy. “Through his astute decision-making and effective policies, the Central Bank Governor has been instrumental in addressing the issues and finding solutions.” El-Ganainy expressed confidence in Mr. Abduallah's ability and appreciates his efforts in stabilizing the economic landscape. He emphasized that Egypt's commitment to progress, combined with prudent decision-making and strategic planning, will undoubtedly pave the way for a brighter and more prosperous future for the nation. "We are on the cusp of reaping the rewards of our investments, and what lies ahead holds even greater promise. Yes, we are in a temporary bottleneck, but rest assured, we will swiftly overcome it. The future is bright, and with our committed dedication and strategic planning, success is inevitable."