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A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with corporations or large or middle-sized businesses, to differentiate from retail banks and investment banks .
1995 — BC joined with Bank of Alexandria, National Bank of Egypt, Banque Misr and Kato Aromatics to found Cairo International Bank in Uganda. 1997 — Saudi Cairo Bank merged with United Saudi Commercial Bank to form United Saudi Bank. BC's share position fell to 9.8%. 1999 — Ownership of Banque du Caire et de Paris became BNP 76% and BC 22%.
In 1987, after Chase Bank’s decision to sell its share of the shares, the National Bank of Egypt established an increasing in its stake to 99.9%, and the bank’s name was changed to "Commercial International Bank – Egypt." The National Bank of Egypt's share continued to decline through several public offerings, to reach 18.7%.
First Abu Dhabi Bank - Misr (FAB), part of First Abu Dhabi Bank Group; Ahli United Bank - Egypt (AUB), part of Ahli United Bank Group; Faisal Islamic Bank of Egypt; Housing and Development Bank (HD-Bank), state-controlled; Al Baraka Bank of Egypt S.A.E. National Bank of Kuwait - Egypt (NBK), part of National Bank of Kuwait Group
In 1915, the bank was the first to produce banknote with the help of British owned National Bank of Egypt. The bank then changed the name to the Bank of Ethiopia during Emperor Haile Selassie regime in 1931. After nationalization by the Derg government, the bank was re-established as one of leading private banks with share company status. [1]
Its functions include [citation needed] Regulates banks and the banking system of Egypt; Formulates and implements Egypt's banking policy, monetary policy and credit policy; Issues banknotes; Manages gold and the foreign exchange reserves of the Arab Republic of Egypt; Regulates and manages Egypt's presence in the foreign exchange market;
In 2009, Commercial Bank of Egypt sold its 8% stake. At the time, the other shareholders were HSBC (49%), Libyan Foreign Bank (26%), Bank Al-Maghrib (8%), and Banque Extérieure d’Algérie (8%). Banque Centrale Populaire eventually bought out Bank Al-Maghrib and thus gained a stake in BACB.
Commercial Bank of Africa (Tanzania), Dar es Salaam, Tanzania; Commercial Bank of Cameroon, Douala, Cameroon; Commercial Bank of Ceylon, Colombo, Sri Lanka; Commercial Bank of Dubai, Dubai, United Arab Emirates; Commercial Bank of Eritrea, Asmara, Eritrea; Commercial Bank of Ethiopia, Addis Ababa, Ethiopia; Commercial Bank of Kuwait, Safat, Kuwait