CIB plans $300 million digital bank to serve Egypt’s retail, MSMEs by 2027

Egypt’s Commercial International Bank (CIB), Egypt’s leading and largest private-sector bank, is accelerating its digital transformation with a $300 million investment to launch a standalone digital bank.

The initiative targets retail clients and micro, small, and medium-sized enterprises (MSMEs), marking a major expansion in Egypt’s fintech sector.

CIB’s $300 million digital bank plan
The bank has applied for approval from the Central Bank of Egypt (CBE) and expects to begin operations by 2026–2027. It will start with an initial capital of $42.8 million, meeting regulatory requirements for full-service digital banking.

Targeting Egypt’s retail and MSMEs
CIB’s digital platform will offer fully remote onboarding, seamless financial services, and cross-border solutions, catering especially to Egyptians working abroad. The bank aims to attract 10 million customers within five years by combining convenience, technology, and cost efficiency.

In addition, CIB has applied to establish a UAE-based holding company in Abu Dhabi Global Market, with $160 million in initial capital.

The holding entity will oversee the digital bank and its technology platform, ensuring regional scalability and flexibility.

Driving financial inclusion and growth
This strategic move positions CIB as a leader in Egypt’s digital banking revolution. With rising smartphone adoption, digital payment penetration, and a large population of underserved customers, the bank’s new digital services are set to enhance financial inclusion while strengthening long-term growth.