{"id":674551,"date":"2025-10-30T00:00:00","date_gmt":"2025-10-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/30\/fitch-affirms-cibs-long-term-issuer-default-rating\/"},"modified":"2025-10-30T00:00:00","modified_gmt":"2025-10-30T00:00:00","slug":"fitch-affirms-cibs-long-term-issuer-default-rating","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/30\/fitch-affirms-cibs-long-term-issuer-default-rating\/","title":{"rendered":"Fitch affirms CIB\u2019s long-term issuer default rating"},"content":{"rendered":"

\n

RATINGS-<\/p>\n

Fitch Ratings affirmed CIB\u2019s long-term issuer default rating at B with a stable <\/strong>outlook<\/strong>, mirroring its recently reaffirmed<\/a> sovereign credit rating for the country, the agency said in a note<\/a>. The country\u2019s largest private bank's national long-term rating was also maintained at AA(egy) with a stable outlook, along with its viability rating at b.<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

The rating agency pointed to CIB\u2019s strong fundamentals and performance despite its <\/strong>exposure to the government as driving its decision. <\/strong>The bank benefits from solid profitability, resilient loan quality, and a strong capital position well above regulatory requirements, according to Fitch. Its stable funding base, supported by a large share of low-cost customer deposits and ample liquidity, was also highlighted.<\/p>\n

Any upgrade for CIB would need to follow an upgrade for the country, given the bank\u2019s <\/strong>exposure to government debt<\/strong>, according to Fitch. And by the same metric, any sovereign credit rating downgrade would lead to a downgrade for the bank.<\/p>\n

\n

ENERGY-<\/p>\n

Efforts to up production at Zohr have been boosted with a new 70 mcf\/d well,<\/strong> according to a statement<\/a> from the Oil Ministry. The drilling of the Zohr 9 well will be followed<\/a> by two other new development wells in the current fiscal year, the Oil Ministry said in August.<\/p>\n

\n

EXPANSION-<\/p>\n

The <\/strong>Egyptian Company for Cosmetics<\/a><\/strong> plans to establish its first <\/strong>manufacturing facility in Saudi Arabia under the brand KCC by 1H 2026<\/strong>, CEO Mohammed Salah told EnterpriseAM. The USD 10 mn factory will be built on a 1.5k sqm site in Jeddah and will launch with five production lines in its first phase.<\/p>\n

The new facility is part of ECC\u2019s regional growth strategy to meet rising Gulf demand.<\/strong> Saudi Arabia currently accounts for about 7% of ECC\u2019s total sales, making it the company\u2019s top export market in the GCC, Salah told us. A second phase will add dietary supplement lines, positioning the Jeddah plant as a springboard for further expansion across Gulf markets.<\/p>\n","protected":false},"excerpt":{"rendered":"

PLUS- Efforts to up production at Zohr have been boosted with a new 70 mcf\/d well<\/p>\n","protected":false},"author":1,"featured_media":674552,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,204,102,240,93,12345,72,905,7093,131,91,416,4396],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-674551","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-banking","tag-capital-markets","tag-cib","tag-energy","tag-eni-ci-capital","tag-enterpriseam","tag-fitch-ratings","tag-gold","tag-manufacturing","tag-oil-and-gas","tag-suez-canal-economic-zone","tag-zohr-field","wpautop","entry"],"acf":{"mongo_id":"040a2f14-7705-4359-b557-d373b51d869e","order":"12","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/167.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Fitch affirms CIB\u2019s long-term issuer default rating","related_issue":[674531],"teaser":"PLUS- Efforts to up production at Zohr have been boosted with a new 70 mcf\/d well","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/10\/.5d0f3656-1c85-426f-bcdd-306fd97cad63.mp3"},"yoast_head":"\nFitch affirms CIB\u2019s long-term issuer default rating - 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The ratings agency also removed it from its rating watch negative list, reflecting its view of diminishing near-term risks to its credit profile, especially its\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593361,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/26\/fitch-affirms-egypts-long-term-fx-issuer-default-rating-at-b-with-a-stable-outlook\/","url_meta":{"origin":674551,"position":1},"title":"Fitch affirms Egypt\u2019s long-term FX issuer default rating at B+ with a stable outlook","author":"enterpriseam admin","date":"26 November 2019","format":false,"excerpt":"Fitch Ratings has affirmed Egypt\u2019s long-term foreign-currency issuer default rating at \u2018B+\u2019 with a \u2018stable\u2019 outlook. The agency said that Egypt\u2019s rating affirmation is supported by \u201ca recent track record of economic and fiscal reforms, and improvements to macroeconomic stability and external finances.\u201d On the flipside, Egypt\u2019s \u201cstill large fiscal\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/5\/178.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":573294,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/28\/fitch-affirms-egypts-long-term-fx-issuer-rating-at-b-outlook-stable\/","url_meta":{"origin":674551,"position":2},"title":"Fitch affirms Egypt\u2019s long-term FX issuer rating at B+; outlook stable","author":"enterpriseam admin","date":"28 July 2020","format":false,"excerpt":"Fitch Ratings affirmed yesterday Egypt\u2019s long-term foreign-currency issuer default rating at \u2018B+\u2019 with a \u2018stable\u2019 outlook. The ratings agency said that Egypt\u2019s \u201crecent track record of fiscal and economic reforms, policy commitment to furthering the reform program and ready availability of fiscal and external financing in the face of the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/7\/224.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":602757,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/04\/fitch-raises-credit-rating-for-cib-nbc\/","url_meta":{"origin":674551,"position":3},"title":"Fitch raises credit rating for CIB, NBC","author":"enterpriseam admin","date":"4 April 2019","format":false,"excerpt":"Fitch Ratings has upgraded long-term issuer default ratings for CIB and the National Bank of Egypt to \u2018B+\u2019 from \u2018B\u2019 with a \u2018stable\u2019 outlook, the agency said in a press release. The agency has also upgraded its rating for NBE\u2019s UK branch. This came in response to Egypt\u2019s recent long-term\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":556371,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/24\/fitch-ratings-affirms-egypts-long-term-fx-issuer-default-rating-at-b-outlook-stable\/","url_meta":{"origin":674551,"position":4},"title":"Fitch Ratings affirms Egypt\u2019s long-term FX issuer default rating at B+; outlook stable","author":"enterpriseam admin","date":"24 October 2021","format":false,"excerpt":"Fitch Ratings affirmed Egypt\u2019s long-term foreign-currency issuer default rating (IDR) at \u2018B+\u2019 with a stable outlook on Wednesday. The rating is supported by Egypt\u2019s \u201crecent track record of fiscal and economic reforms,\u201d coupled with its large economy, which has remained stable and resilient through the global health crisis, as \u201ccontinued\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/239.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595516,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/29\/fitch-affirms-credit-ratings-of-credit-agricole-national-bank-of-egypt\/","url_meta":{"origin":674551,"position":5},"title":"Fitch affirms credit ratings of Credit Agricole, National Bank of Egypt","author":"enterpriseam admin","date":"29 September 2019","format":false,"excerpt":"Fitch Ratings has affirmed the long-term issuer default rating for Credit Agricole Egypt (CAE) at 'AA+\u2019 with a \u2018stable outlook,\u2019 the agency said in a press release. The agency has also affirmed its rating for the National Bank of Egypt (NBE) at 'B+' with a stable outlook. \u201cThe ratings of\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/674551","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=674551"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/674551\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/674531"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/674552"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=674551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=674551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=674551"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=674551"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=674551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}