Graduate School of Business-Cairo

Master of Business Administration

General Track
Comprehensive Exam Answer, CIB
May 2023

Prepared by: 18124653

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 CONTENTS
1. Introduction ........................................................................................................................................... 3
2. VISION, Mission & Core Values .......................................................................................................... 5
2.1. Vision ............................................................................................................................................ 5
2.2. Mission.......................................................................................................................................... 6
2.3. Core Values................................................................................................................................... 8
3. External environment analysis ............................................................................................................. 11
3.1. PESTEL ...................................................................................................................................... 11
3.1.1. Political Factors....................................................................................................................... 11
3.1.2. Economic Factors.................................................................................................................... 13
3.1.3. Socio-Cultural Factors: ........................................................................................................... 15
3.1.4. Technological Factor............................................................................................................... 16
3.1.5. Environmental Factors ............................................................................................................ 18
3.1.6. Legal Factors ........................................................................................................................... 19
3.2. Porter 5 Forces ............................................................................................................................ 20
3.3. Issue Priority Matrix ............................................................................................................................ 22
3.4. Competitive Profile Matrix (CPM) ......................................................................................... 23
3.5. External Factor Analysis Summary (EFAS) ............................................................................... 24
4. Internal Environment analysis ............................................................................................................. 26
4.1. McKinsey 7s ............................................................................................................................... 26
4.2. Financial analysis ........................................................................................................................ 31
4.3. VRIO model ................................................................................................................................ 33
4.4. Internal Factor Analysis Summary (IFAS) ................................................................................. 34
Strategic Factors Analysis Summary (sfas) ................................................................................................ 35
5. Strategy Formulation ........................................................................................................................... 37
5.1. SWOT ......................................................................................................................................... 37
5.2. TOWS ......................................................................................................................................... 38
5.3. Internal – External Matrix (IE) ................................................................................................... 39
5.4. Strategic Position And Action Evaluation (SPACE) Matrix ...................................................... 40
5.5. Quantitative strategic planning matrix (QSPM) ......................................................................... 42
6. Strategic objectives .............................................................................................................................. 44
7. Implementation and control ................................................................................................................. 45
7.1. Internal Policies .......................................................................................................................... 45
7.2. Action Plan.................................................................................................................................. 48
Business Plan .............................................................................................................................................. 52
1. Marketing Plan ................................................................................................................................ 52
2. Operational plan .............................................................................................................................. 57
3. Financial Plan.................................................................................................................................. 58
Summary ..................................................................................................................................................... 63
References ................................................................................................................................................... 64

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 1. INTRODUCTION
The Commercial International Bank (CIB) is one of the leading financial institutions in Egypt that
has been actively pursuing a digital transformation strategy. With the rapid growth of digital
technologies and changing customer preferences, CIB's digital strategy has become imperative to
ensure its competitiveness in the market. The bank has been investing in various digital initiatives,
such as mobile and online banking, to provide a seamless and convenient banking experience to
its customers. Furthermore, the bank has also been partnering with fintech companies to offer
innovative and personalized banking solutions.

This study is conducted to generate strategic & business plans for CIB, starting with the vision,
mission & core values, and proposed new statements, going through, External Environmental
scanning, using PESTEL analysis, Porter 5 forces analysis, External Factor analysis summary, to
generate the external opportunities and threats facing CIB business, and the internal environmental
analysis, using McKinsey 7s framework, financial analysis, and internal factor analysis summary
to generate the CIB’s Internal points of strength and weaknesses.

Following to the external and environmental scanning, several tools have been used in the
matching phase, SWOT, TOWS, SPAC EMATRIX, IE matrix to link and study the external and
internal environment scanning, until reaching the convenient strategy, then quantitative strategic
planning matrix is used to decide which strategy to be used.

After the strategy selection, a proposed implementation and score card, for the strategic objectives
derived from the selected strategy is being presented.

The business plan, presented in this study is consisted of 3 basic elements, marketing plan,
operational plan guideline, and financial forecast, and it is important to consider that all three plans
are missing important insights from CIB organization, from data could be considered confidential
to the bank.

Finally, the resulted strategic plan & business plan is a dynamic study and subjected to change to
many external and internal factors, The banking industry is constantly evolving, and changes in
the economic, political, and social environment can impact a bank's strategic direction. Therefore,
while this plan aims to provide a roadmap for CIB in the current environment, it is important to
remain flexible and adaptable to changing circumstances. The plan will need to be regularly
reviewed and updated to ensure that it remains relevant and effective in achieving CIB's objectives.

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 Vision, Mission & Core Values

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 2. VISION, MISSION & CORE VALUES

2.1. VISION

Current Vision:

“To be at the forefront of change, building for the future, and turning aspirations into reality.”

Criticism:

Vision has a very generic impression, it could be applicable to any organization in different
industries, although it shows great ambition and wide dream for the future but lacks the goal
meaning.

New proposed Vision

“To be the most trusted bank, financial services future shaper, turning aspirations into reality, and
leading the change.”

The new vision has a goal meaning, while still concise and clear.

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 2.2. MISSION

Current Mission

To transform traditional financial services into simple and accessible solutions by investing in
people, data and digitalization to serve tomorrow's needs today.

Criticism:

To criticize this mission, following components will be considered:

1. Product/ Service:
“Financial services”
No comment on this component, as it clearly specifies the service CIB offers in the market.
2. Markets:
The markets CIB operates in aren’t mentioned in the mission statement, although it is very
important to be written and known for all stakeholders & interested parties.
3. Technology:
Only an indication of the implementation of technology in the word “Digitalization”, but
this is very not to express the level and quality of technology, and this is a very significant
component as it is a competitive advantage for a reputational bank as CIB, in a digitalized
era of time.
4. Survival/Growth/Profit:
It is not mentioned, although it is a major strength point for the first private-sector bank in
Egypt, that shows how its profitable and growing.
5. Philosophy:
The phrase” Investing in people, data, and digitalization”, could be understood as the Bank
philosophy.
6. Self-Concept:
The phrase “Transform traditional financial services into simple & accessible solutions”,
could be understood as how CIB is seeing itself, and its role.
7. Public image:
It is not mentioned, it also could be a competitive edge for CIB case, as the bank is already
involved in many society projects that concern the public.
8. Employees:
The phrase “Investing in people” shows the CIB action towards its employees, but it
doesn’t show who are those people the company investing in, and why.
It is very important to communicate in the mission statement, one of the most important
assets in any organization, which could be the competitive advantage, banking is
fundamentally a people business, and talented employees are the people who are building
the bank of the future.

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 9. Customers:
It is not mentioned, although it is a key component of a well-established mission statement,
to address the customer, and to tell who you are serving.

As per the previous component criticism, the current mission statement isn’t revealing / or showing
vaguely very significant elements that could be in the mission statement, as it is not showing
markets of its services and customers targeted, and showing vaguely with no clear or attractive
way of exposing, the bank employees potentials or level of competencies, technological
capabilities or level of quality, therefore, by adding those 4 elements to the current mission
statement, it could be more professional and conveys more deeper message.

New proposed Mission

To transform traditional financial services into simple and accessible solutions for Egyptian people
& businesses, by investing in human resources, data and digitalization using best-In-Class
technology to serve tomorrow's needs today, along with delivering value for our clients,
shareholders, employees, and society.

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 2.3. CORE VALUES

CIB is stating its core values as follows:

Putting our customers first, we lead the market with agility and integrity.

Customers First

• We listen proactively to our customers to understand their needs and expectations.

• We integrate the voice of the customers in new product and service developments.
• We go the extra mile when serving our customers.
• We optimize our processes to deliver the highest value and a seamless experience to our
customers.
• We measure and benchmark customer engagement KPI’s and integrate them in our
leadership evaluation.

Lead The Market

• We strive to offer the best products and highest quality service.
• We aim to invest further to strengthen and enhance our market position.
• We provide an environment for our employees where everyone can give their absolute
best.
• We train and equip our employees to be best prepared for a constantly evolving financial
service market.
• We are a role model in implementing national initiatives and regulatory guidelines.

Agility
• We embrace a changing market environment and respond decisively and swiftly.
• We release new products and pilots quickly to test and optimize them in a real
environment.
• We are open to trying new things, but rigorous in evaluating its success and happy to
accept mistakes.
• We collaborate proactively within cross-functional teams and limit vertical hierarchies to
a minimum.
• We leverage technology to support, facilitate and automate our processes and time to
market.

Integrity

• We hold ourselves accountable to a higher standard of responsibility.

• We are doing the right things, even if it is commercially less attractive.
• We communicate clearly what we can deliver and keep our word.
• We do things right and create solutions that work.
• We fully comply with all regulatory and compliance standards and apply zero tolerance
to misconduct.

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 Criticism:

The current values are clear, important, and very well defined. Other values also could be added
like teamwork, confidentiality, community loyalty, the most critical one to be added is Innovation.

If the innovation value is added, and well communicated to the employees, and valued by the
leadership team, the mind-set can be significantly changed towards more innovative and creative
solutions for both employees & customers.

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 External Environment Analysis

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 3. EXTERNAL ENVIRONMENT ANALYSIS
3.1. PESTEL

3.1.1. POLITICAL FACTORS

Political Stability

According to the political stability index(-2.5 weak;

2.5 strong), 2021, (The indicator is available from
1996 to 2021), Egypt has the Rank 12 out of 18
country in the MENA region, and a world rank 164
out of 194 country. (The global Economy, 2021)

Also, it is showing on global terrorism index as a high

terrorism impact country.

As a comment for the previous indicators, the

indication could be that political stability is in a risky
situation, but this conclusion needs some
clarifications, as the political stability index is having
the study including very critical years like 2011
revolution, or 2013 instability, which had negative
impact the ranking points.

Also the terrorism impact, it is very true that Egypt

had suffered a lot from these attacks, specifically in The Impact of terrorism in countries around the world
the north Sinai governate, which had been on top of Source : Statista
the current priorities to end, in reaction to the high
efforts of ending those attacks, the current government has announced to increase the number of
development projects in the governate2022/23 plan amounts to EGP 7.9bn, an increase of 27.4%
over the 2021/22 plan (Daily News EGypt, 2023).

To conclude, political stability could move from risky situation, into uncertain situation,
which is still considered a threat.

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 Taxation

The Egyptian taxation policy consists of two main categories:

1. Direct Tax (Agriculture land tax, real estate Tax and Income Tax)
2. In-Direct Tax (Stamp Duties-VAT-Customs Duty)

In this study, we consider the Indirect tax system (VAT & Stamp Duties) as it is impacting banking
operations:

Value Added Tax (VAT)

The standard VAT rate is 14% as of the financial year 2017/18 (i.e., as of 1 July 2017; previously
13%).
The standard rate is applicable to all goods and services; however, the reduced VAT rate of 5% is
applied to the machinery and equipment that are necessary for producing goods or providing
services.
The Egyptian tax authority (ETA) has introduced a new e-filing system for the submission of the
VAT returns; consequently, taxpayers will be required to submit their VAT returns (i.e., monthly
VAT and/or schedule returns) electronically through the ETA’s website, starting from January
2019. Accordingly, the manual filing of VAT returns will not be accepted as of the mentioned
date.
In November 2020, the ETA started applying the e-invoicing system gradually in phases. The
decision includes the steps and conditions needed to be followed by the taxpayers. it was
announced that all Egyptian entities should be applying the e-invoicing system before the end of
financial year 2022.
Stamp Tax
There are two distinct types of stamp tax, which are imposed on legal documents, deeds, banking
transactions, company formation, insurance premiums, and other transactions, as follows:

• The nominal stamp tax is imposed on documents, regardless of their value. The
tax rate for items such as contracts is approximately EGP 1 for each paper (per
each copy of the document).
• Percentage or proportionate stamp tax is levied based on the value and nature of
the transactions.
An annual proportional stamp tax at the rate of 0.4%, shared by the bank and the client, is imposed
on a bank's loans. This stamp tax is due on a quarterly basis on the beginning balance of each
quarter of credit facilities and loans and advances provided by Egyptian banks or branches of
foreign banks during the financial year in addition to the amounts utilized within the quarter.

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 3.1.2. ECONOMIC FACTORS

The start of the Russia-Ukraine war in 2022 disrupted the production and trade of several
commodities, including wheat and natural gas, which led to food shortages, increased commodity
prices, and precipitated the largest energy price shock since the 1970s, placing increased
inflationary pressure on world economies. Especially Emerging Markets (EMs) - had to endure
through the Covid-19 pandemic.

Egypt's Net Foreign Assets (NFAs) began to drop in March 2022, marking the country's steepest
decline since the COVID-19 outbreak in February 2020. The nation experienced immediate "hot
foreign money" outflows of more than USD 20 billion as investors fled emerging markets for safer
havens. As a result, the EGX30 fell by 27% to a low of 8,598 points in July from a high of 12,069
points in January.

As a result, the CBE (Central Bank of Egypt) changed the importation regulations in an effort to
reduce foreign currency demand and boost local manufacturing. This resulted in a piling up of
goods in the ports and shortages in a variety of goods.

To help stabilize Egypt's finances and contain the effects of the war, the Gulf Cooperation
Council (GCC) countries committed around USD 22 billion in investments and deposits.

The finance agreement with Egypt was approved by the IMF Board in December, allowing for
an immediate transfer of around USD 347 million.

CBE extended until December 2023 the need that banks boost the percentage of their SME
(micro, small, and medium-sized firm) lending facilities that they offer to 25%.

Economic Indicators (tradingeconomics, 2023)

2022 2021 2020 2019 2018

GDP (B) $475.23 $423.14 $365.25 $303.08 $249.71
Growth % 5.16% 3.33% 3.57% 5.56% 5.31%
GNP(B) 5.15% $365.80 $307.45 $269.86 $274.94
Exchange Rate (USD/EGP) Dec. 24.5 15.69 15.8 16.8 17.6
Inflation Rate 8.5% 5.21% 5.04% 9.15% 14.40%
Unemployment Rate 7.20% 9.33% 9.17% 7.84% 9.82%

After Egypt's gross domestic product increased by 6.6 % in October–December 2022, the second
quarter of the fiscal year, the country's economy has demonstrated a high potential for
investment and growth in recent years.

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 Inflation Rate

(CAPMAS, 2022)The inflation rate in Egypt rose to 32.7% in March 2023 from 31.9% in the
previous month.

It was the highest inflation rate since July 2017 following a series of currency devaluations that
started in March 2022.

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 Employment

According to the (CAPMAS, 2022)

quarterly Labor Force Sample Survey
(LFS) for Q2 (Oct./Dec. 2021/2022), the
number of employed decreased by 1.2 % to
27.5 million persons (compared with the
same period a year earlier). In contrast, the
number of unemployed roses by 1.6 % to
2.2 million persons. This led to a fall of 1.0
% in the size of the labor force, relative to
the same period a year earlier, to stand at
29.7 million persons.

To conclude, as Egypt is facing a very high inflation rate and shortage on foreign
currency and higher unemployment rates, the economic factors considered as a
threat.

3.1.3. SOCIO-CULTURAL FACTORS:

According to data from the CBE, as of December 2020, the total number of bank accounts in
Egypt was approximately 63.6 million
The indicators showed a considerable increase in financial inclusion rates over the previous six
years, with a growth rate of 115%.

Income (tradingeconomics, 2023)

Minimum wage has increased

1st Jan, 2023 to 2,700 EGP
from 2,400 EGP 1st Jan, 2022,
Minimum wage is based on 8
hours per day - five-day
workweek. Or 6-day work
week, 7 hours per day (42-hour
working week is standard).

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 Behavior
The habits of the Egyptians towards digital banking, has been changed positively specially after
COVID-19 Pandemic, but still illiteracy within a high percentage of the population, especially
elders towards digital monetary activities remains an obstacle.

According to (We are social, 2023) :

▪ There were 80.75 million internet users in Egypt at the start of 2023, when
internet penetration stood at 72.2 percent.
▪ Egypt was home to 46.25 million social media users in January 2023, equating
to 41.4 percent of the total population.
▪ A total of 105.1 million cellular mobile connections were active in Egypt in early
2023, with this figure equivalent to 93.9 percent of the total population.

With the increase of banked citizens, and users of digital banking, with
correspondence to increasing number of populations, the socio-cultural factors can
be considered as an opportunity.

3.1.4. TECHNOLOGICAL FACTOR

According to (Trade.Gov, 2022)The Information and Communications Technology (ICT) sector

in Egypt is highly strong, growing at a pace greater than the country's overall GDP growth, or 16%
in fiscal year 2020/2021 compared to 15.2% in year 2019/2020. Its contribution to the GDP rose
from 4.4% in the fiscal year 2019/2020 to 5% in 2020/21. The total amount invested in the industry
in 2020–2021 has about $3 billion.

The Egyptian government is implementing several numbers of investments, capacity building and
training programs, digital government services reforms, and infrastructure improvements as part
of its ICT 2030 agenda.

The "Our Future is Digital" program by the Ministry of Communication and Information
Technology (MCIT) intends to teach 100,000 young Egyptians in ICT skills in fields with
significant market demand, such as website design, data analysis, and digital marketing.

The ministry's Digital Egypt Project seeks to provide fiber-optic cable connections to every
government agency. In total, 5,300 government buildings in Egypt have undergone this process,
which would eventually connect 32,000 structures for a total of 6 billion Egyptian Pounds (about
$375 million).

Most key government offices are scheduled to eventually be in the New Administrative Capital
(NAC), 30 miles east of central Cairo, with a target move-in date of mid-2021.

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 The NAC is intended to be a "Smart City," and the government is making significant investments
in the ICT and telecommunications infrastructure of the new city. "Knowledge City," which will
be situated inside the NAC, has finished the first phase. In order to enable technical training,
software and application development, and data design, it will comprise applied research centers
for technology. Estimated total expenditure for the Knowledge City is 12 billion Egyptian pounds
($750 million). They intend to set up Creative Innovation Hubs across the city that will offer
technical support to encourage innovation and entrepreneurship.

Taking into consideration, global trends of technology in banking industry, the CIB shall consider
if chasing its vision by leading the change. (Gartner, 2022)

There are several technologies that can be considered as an opportunity for the next 2-5 years, for
CIB to be a pioneer in this area, such as embedded finance and payments, banking application
marketplaces, hybrid cloud for banking, real time payments, and open banking strategy.
Each of these areas have applications in global banking industry, but not yet implemented in Egypt.

Additionally, global cyberattacks rose 38% in 2022, according to (Security Magazine, 2022), and
the threat of cybersecurity attacks is constantly changing as hackers create new ways to exploit
holes in computer systems and networks.

In conclusion, the country's direction towards digital transformation, newly introduced

technologies are ready solutions available to be implemented, and increasing adoption of mobile
technology for online shopping are taken into consideration as an opportunity, but higher rates of
cyberattacks, and poor infrastructure can be considered as a threat.

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 3.1.5. ENVIRONMENTAL FACTORS

Though the banking industry does not impact the environment directly, there are some indirect
effects. The banking industry is changing with the help of advanced technology, and they are
concentrating on sustainable practices.

Because of the banking sector's emphasis on mobile banking and mobile wallets, less consumers
are using conventional transaction methods. Paper money notes are increasingly being replaced by
credit and debit cards. To reduce the usage of paper, many banks have opted for paperless
transactions.

The banking industry is attempting to adopt ecologically responsible practices in addition to

building a positive brand image. A large portion of them want to employ renewable energy sources.
Rechargeable lithium-polymer battery-powered solar ATM usage is expanding quickly.

The usage of hazardous chemicals on equipment and as cleaning agents has decreased at banking
institutions. Additionally, they participate in environmental initiatives and maintain a clean
environment in their community.

The Egyptian government has made some significant

strides towards a green economy, which will result in
a more stable and long-lasting business climate. Egypt
unveiled its National Climate Change Strategy 2050
five months before hosting the UN Climate Change
Conference 2022 (COP27) in Sharm El-Sheikh. To
implement projects totaling USD 15 billion under its
Nexus on Water, Food, and Energy (NWFE) program,
a flagship initiative for luring climate finance to some
of Egypt's most significant green projects, the nation
signed several partnerships with international
financial institutions and development partners during
COP27. Egypt is one of the total preparedness ratings
countries for green tech transition. Egypt's banking
industry is still strong and able to survive the regional
and global challenges that have been present for more
than ten years, supported by historical reforms over the years.

To conclude, as financing green projects and contributing to the development of

Egypt’s Sustainable Development while improving the Bank’s opportunities to
capture new opportunities., is considered as an opportunity.

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 3.1.6. LEGAL FACTORS

Banking Laws in Egypt (CBE, n.d.)

On September 15, 2020, Egypt’s new Banking Law (#194/2020) was adopted by the President,
entering immediately into effect the following day. The objective of the New Banking Law, is to
ensure that Egypt’s banking system complies with international standards, put in place the
necessary legal framework, and enhance Egypt’s efforts to promote its financial technology sector.

The CBE increased banks’ required reserve ratio (RRR) to 18% from 14% in its meeting in
September, and two of the biggest state banks issued 1-year CDs offering 18% return and 3-year
CDs offering 17.25% annual return in March, it isn’t considered as a law, but it has the power of
the law, and deviation is considered as a crime.

Several operating banks in Egypt also applied to acquire the Digital Bank license, but still
waiting for appropriate regulations.

To conclude, the change of laws, and absence of laws and regulations to cope with current
technological advancement, can be considered a threat.

To Sum up, here are the outcomes from PESTEL Analysis:

1. Political instability & uncertainty – Threat

2. Country Direction for development infrastructure - Opportunity
3. High Inflation Rates – Threat
4. Unstable Exchange rate – Threat
5. Low labor cost rate-Opportunity
6. Increasing Numbers of SMEs-Opportunity
7. Shortage of Foreign currency – Threat
8. Absence of regulations and laws for digital banking – Threat
9. Environmental projects direction of the country – Opportunity
10. Poor Technology Infrastructure – Threat
11. Increase of Cybersecurity attacks -Threat
12. Technology investments direction – Opportunity
13. Increasing numbers of digital banking users – Opportunity
14. Newly introduced technologies in AI, big data, and cloud computing are ready solutions
available to be implemented – Opportunity.

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 3.2. PORTER 5 FORCES

1. Rivalry among existing competition

There is intense competition

among banks in Egypt, especially
with and two of the biggest state
banks reduces the market share to
compete.

The impact of this force is high,

and considered as a threat, but CIB
has managed to be in the leadership
of the private sector banks.

2. Supplier bargaining power.

Service providers/ suppliers for the bank can be categorized into 5 main categories :

1. IT providers:
CIB rely heavily on technology to operate, and IT providers supply hardware, software,
and other technology-related services to support their operations, on the other hand there
are several IT services providers
The Impact for this category is medium.
2. Security and risk management providers:
CIB requires specialized security and risk management services to ensure the safety of their
assets and customers' information, however there are several service providers, The Impact
of this Category is medium.

3. Legal services providers:

Banks need legal services providers to ensure compliance with applicable laws and
regulations and to protect their legal interests, but because banking regulations in Egypt
are stable and robust, with many service providers in this category, The Impact of this
category is medium.

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 4. Office supply and equipment providers:
Banks need office supplies and equipment providers to support their administrative functions,
such as printing, stationery, and office furniture.
The Impact of this category is Low.

3. Customer Bargaining Power

It depends on the size of the customer, for example if a large group of individuals, or a high
valued corporate the impact will be High, but for small groups or firms, it will have low impact.

4. New/Potential Entrants
The threat of new entrants from within the financial industry is relatively small, due to complex
operation, and robust regulations, so the impact is Low.

5. Substitutes
Many companies are now providing, full or partial financial services, which is impacting
number of transaction and monetary redistribution, for example, PayPal, cash service provided
by the telecommunication companies are considered as partial substitutes for banking services,
but still not providing full banking service, in terms of security and credibility. Therefore, the
impact of this force is medium.

To Sum up, here are the outcomes from 5-Porter forces Analysis:

1. Competition with largest state banks – medium

2. Impact by IT service providers – medium
3. Impact Security & Risk providers – medium
4. Alternative financial services provided by non-banks – low

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 3.3. ISSUE PRIORITY MATRIX
1 2 3
- High population - Direction of going green - Increasing numbers of
(109.3 Million) supported by the digital banking users (O)
(O) government (O) - High inflation rates (T)
H Cybersecurity attacks (T)
- Foreign currency scarcity in
Egypt (USD/EUR) (T)
- Unstable Exchange Rate (T)

4 5 6
- Increase the - Low Labor cost rate (O) - Country direction towards
Probability

occurrence

numbers of - Megaprojects (O) digital transformation (O)

Of

financial services - Increasing numbers of - Newly introduced

providers (T) technologies in AI, big
M SMEs (O)
data, and cloud
- High competition in computing are ready
banking industry with solutions available to be
national banks (T) implemented (O)
- Poor technology
Infrastructure (T)
7 8 9
- Absence of - Impact by IT service - Political instability &
L regulations and providers (Most in USD) uncertainty (T)
laws for digital (T)
banking (T)
L M H
Impact on the Bank

The most important factors are:

Opportunities Threats
1 Country direction towards digital transformation 1 High inflation rates
2 Newly introduced technologies in AI, big data, and 2 Foreign currency scarcity
cloud computing are ready solutions available to be in Egypt (USD/EUR)
implemented
3 Increasing numbers of digital banking users 3 unstable Exchange Rate
4 Direction of going green supported by the 4 Poor technology
government Infrastructure
5 Cybersecurity attacks

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 3.4. COMPETITIVE PROFILE MATRIX (CPM)

CPM (Competitive Profile Matrix)

Critical Success Weight CIB National Bank of Banque Misr
Factor Egypt

Score Weighted Score Weighted Score Weighted

Score Score Score
Marketing 0.1 3 0.3 4 0.4 4 0.4
Product variety 0.1 3 0.3 4 0.4 4 0.4
Accessibility to 0.1 3 0.3 4 0.4 4 0.4
branches &
ATMs
Financial 0.1 3 0.3 4 0.4 4 0.4
Position
Online & Mobile 0.25 4 1 2 0.5 2 0.5
Banking
Customer 0.1 4 0.4 2 0.2 2 0.2
Service
Reputation, 0.25 3 0.75 4 1 4 1
Credibility &
Security
Total 1 3.4 3.3 3.3

(NBE, 2020)National Bank of Egypt (NBE), has the largest market share in banking sector, and
as per 2019/2020 annual report, it has a network of 4726 ATM, 517 branches, with work force
21.175 employee, 17.8 Mil customers with net profit 12,067 MIL EGP by Dec,2020, with a wide
range of Card products, Loan Products, Mobile Phone Payments, Internet banking and services
and the major strength, that its credibility and reputation as a government bank make it easier to
gain the trust of the Egyptian market.

(Banque Misr, 2021)Banque Misr, as per 2020/2021 annual report has network of 779 branches,
13 Mil customer,20,000 employee, 4000 ATMs, with 23.5 bn Net profit by end of 2021

The scores in two factors, online & mobile banking, and customer service were in favor of CIB,
but the other factors were in favor of the competitors.

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 3.5. EXTERNAL FACTOR ANALYSIS SUMMARY (EFAS)
EFAS External Factors Weight Rate Total

1 Country direction towards digital 0.2 4 0.8

transformation
2 Newly introduced technologies in AI, big 0.1 4 0.4
Opportunities

data, and cloud computing are ready

solutions available to be implemented
3 Increasing numbers of digital banking 0.1 3 0.3
users
4 Direction of going green supported by the 0.1 3 0.3
government
Sub Total 0.5 1.8
1 High inflation rates 0.1 2 0.2
2 Foreign currency scarcity in Egypt 0.1 2 0.2
(USD/EUR)
Threats

3 unstable Exchange Rate 0.1 1 0.1

4 Poor technology Infrastructure 0.05 2 0.1
5 Cybersecurity attacks 0.15 3 0.45
Sub Total 0.5 1.05
Total 1 2.85

As the total points of weighted score is more than the average 2.5, the external environment is
favorable.

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 Internal Environment Analysis

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 4. INTERNAL ENVIRONMENT ANALYSIS
4.1. MCKINSEY 7S

Strategy

Driven from CIB’s strategy which focuses on strengthening its core business to serve current and
potential customers in the corporate, SME, and retail segments, several strengths resulted.

1. Customer base:

CIB provides tailored, client-centric services to clients in the corporate, commercial, retail, wealth,
and small and medium enterprise (SME) spheres. In parallel, the Bank works to deliver the most
streamlined, efficient banking service offering in the Egyptian market.
CIB has also enjoyed the titles of most profitable bank operating in Egypt and the bank of choice
for over 800 of Egypt’s largest corporations.
As per 2022, annual report customer base has reached +1.9 Million clients, which exceeds the
number of customers in any other private bank.

The large customer base of CIB is considered a strength point.

2. Products and Services:

CIB offers its products & services by serving wide range of the below sectors:

Institutional banking
• Corporate Banking, and Global Customer Relations Group
• Debt Capital Markets
• Direct Investment
• Financial Institution Group
• Treasury and Capital Market Services
• Strategic Relations Group
• Enterprise and Governmental Relations Group
• Global Transaction and Digital Banking
Retail Banking
• Consumer Banking
• Business Banking

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 Representative Offices, Strategic Subsidiaries, and Associates
• Dubai Representative Office,
• Addis Ababa Representative Office,
• CVentures
• Mayfair CIB Bank (MCIB)
• Damietta Shipping and Marine Services(DSMS)
• Commercial International for Finance Company (CIFC)
• Falcon Group
• FawryPlus
• Al Ahly Computer Equipment Company (ACE)
• TCA Properties

The large variety of products & services provided by CIB, is considered a strength point.

3. Reputation & Brand Name :

CIB has long-standing relationships

with clients that are built on the
concepts of trust, customer centricity,
and rights. CIB received total 72
awards, 15 in 2022 only.

4. Geographical coverage

With its well-established network of 210 branches

and banking units, as well as a workforce
comprising 7,689 employees, CIB provides tailored,
client-centric services to clients in the corporate,
commercial, retail, wealth, and small and medium
enterprise (SME) spheres, plus the largest ATM
network (1307 ATM all over egypt) among private
banks.

The wide network coverage of CIB branches, ATMs

& POSs, is considered a strength point, although the
centralized distribution of branches considered as
weakness point.
Branches distribution all over Egypt

The Strong brand name of CIB is considered a strength point.

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 Structure

Commercial International Bank (CIB) reports (CIB, 2022) shows have a hierarchical
organizational structure with several management levels. Here is a general overview of
CIB's organizational structure:

• Board of Directors.
• Executive Management.
• Business Units:
• Corporate Banking
• Retail Banking
• Investment Banking
• Treasury
• Support Functions:
• Human Resources
• Information Technology
• Risk Management
• Legal and Compliance
Systems

CIB was the first bank to utilize data analytics in optimizing processes and operations, thus
improving efficiency and competitiveness. The use of data analytics in the banking industry is
quickly growing, giving CIB many potential to grow the company and offer better services and
products at lower prices.
The Bank launched its e-wallet and Behavioral Credit Scoring Model. The model assesses
customers’ credit worthiness by analyzing the wallet’s incoming and outgoing cash flow
behavioral patterns.
At the end of 2020, CIB launched Bank of the Future (BOTF), a program that replicates the
physical branch experience and redirects customer traffic toward our growing digital channels.

The direction towards digital transformation and innovation is considered a strength point.

Skills

The bank employs a mix of technical and soft skills to deliver its banking products and services,
to survive and excel all this period, it must be relying on high technical financial skills, and to
pioneer in the digitalization, it has to be attached to high technological proficiency.

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 Style

The bank has a customer-centric approach to management and leadership. The talent strategy
actively supports CIB’s digital transformation through automating several processes, including
talent attraction, onboarding, and career mobility. In 2022, a hybrid approach was adopted for
internal and external hiring across the organization, whereby virtual means are utilized throughout
the hiring process for efficiency, with flexibility to move to the physical approach when needed.

Staff

CIB hired 1,203 employees in 2022, encouraged the internal mobility of 944 employees, and
promoted 665, in line with its strategy to encourage career mobility within the Bank.
HR provided 75 programs over 550 rounds, delivered to more than 3,000 employees.
HR department also established more than 50 specialized learning tracks which consisted of
technical training and advanced certifications that were delivered to 1,241 employees to support
career progression. 7,689 total workforces, as of year-end 28.21% of staff are women 1,199,814
training hours provided to all employees.

The strong Human Capital of CIB is considered a strength point.

Shared Values

In addition to the core values analyzed in section 1 of this study, the bank has social and
environmental responsibility.

Integrating environmental, social, and governance aspects into the Bank’s policies, operations,
culture, products, and services to achieve sustainable development and act as an advocate of
responsible banking.

The Better Together initiative started in 2020, aiming to provide job opportunities for the
differently abled in the Bank’s different branches and departments. Building on what was
accomplished in 2020, HR launched the third round of the Helmik Yehmena program to promote
women empowerment in the workplace. The program aims to encourage the talents of young
women in the Upper Egypt and Delta regions to join the workforce.

During 2022, CIB took part in several national initiatives, such as Haya Karima, Women
International Month, Youth International Day, Farmer Day, and Saving Day by contributing with
different Smart Wallet activities in different governorates to advance financial inclusion in Egypt.

As part of CIB education responsibility, CIB sponsored four students under the patronage of H.E
the Egyptian president’s initiative with full scholarships for the top students from Egyptian
National Diploma (Thanawya Amma) at the Egypt University of Informatics.

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 The Bank continued its sponsorship of the Egyptian Advance Society for Persons with Autism
and Other Disabilities (ADVANCE).
CIB supported the Nile cleaning day in 15 Governorates.

For more than 200 clients, the CIB held corporate training on green construction initiatives and
the textile industry. It also used its own devoted staff of engineers to conduct Walkthrough Energy
Audits in order to find potential for energy savings that would improve our clients' operational
effectiveness and increase profitability.

The initiatives towards environmental & CSR projects are considered a strength point

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 4.2. FINANCIAL ANALYSIS

Comments on the financial performance of CIB during 2022 :

• FY 2022 CIB’s consolidated net income increase by 21% y-o-y to EGP 16.11 billion.
Standalone net income reached EGP 16.13 billion, up 20% from 2021. (strength)
• Standalone revenues grew by 22% from the previous year to reach EGP 32.75 billion.
(strength)
• The Bank was able to maintain its operational efficiency in 2022, with the cost-to-
income ratio standing at 21.2% compared to 22.8% in 2021. (weakness)
• Return on equity (ROE) recorded 25.1% on a consolidated basis (post-profit
appropriation) compared to 21.7% in 2021. (strength)
• Consolidated return on assets (ROA) stood at 2.86% in 2022, compared to 2.88% in
2021. (weakness)
• The Bank’s gross loan portfolio stood at EGP 222.7 billion at year-end, growing 36%
y-o-y from EGP 164.3 billion by 2021 year-end. (strength)
• CIB’s market share of total loans amounted to 5.41% in September 2022.
• The Bank pursued deposit growth in 2022, adding EGP 124.4 billion to its base, which
grew to a total of EGP 531.6 billion over the year, an increase of 31% from 2021.
(strength)
• Loan-loss provision expense for 2022 amounted to EGP 1.58 billion, with loan-loss
provision balance reaching an unprecedented EGP 24.55 billion. This was not
associated with any asset quality deterioration, as evident by a solid NPLs of the gross
loan portfolio of 4.86%, down from 5.12% by 2021 year-end, cushioned by a solid
227% coverage ratio. (strength)
• The Bank remains comfortably covered in terms of capital adequacy, with year-end
capital adequacy ratio (CAR) recording 22.7% (post-profit appropriation well above
the minimum regulatory requirement). (strength)
• Distribution of total cash dividends of EGP 1,613 million to shareholders this year,
increasing its legal reserve by EGP 806.4 million to EGP 4.77 billion, and its general
reserve by EGP 11.58 billion to EGP 38.68 billion. (strength)

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 Financial ratios analysis
Profitability ratios
Profit margin ratio
2022 2021 2020 2019 2018
48.94% 49.81% 39.38% 51.30% 47.01%

Industry ratio : 44.8%

Every 1 EGP generated from sales; the Bank keeps 49% as a profit.
Although profit margin ratio is less than 2021, but overall, it is showing an upward
trend, plus it is higher than industry by 4%.
Return on equity ROE
2022 2021 2020 2019 2018
23.90% 21.70% 19.20% 26.20% 31.70%
Industry ratio :22%

For every 1 EGP invested by owners, bank generated 24% net income,
it is showing upward trend, and above or equal to industry ratio.

Return on Assets (ROA)

2022 2021 2020 2019 2018
2.86% 2.88% 2.53% 3.43% 3.06%
Industry Ratio : 2.85%

Measurement of profitability with relation to assets,

it shows a constant trend, and almost equal to industry ratio.
Liquidity Ratio
Loan to deposit ratio (LDR)
2022 2021 2020 2019 2018
41.80% 40.30% 40.20% 43.30% 41.90%

The bank lent roughly 42% of its deposits

Growth Ratio
Earning per share
2022 2021 2020 2019
4.83 6.1 6.26 7.33

For each share of common stock, the earning is 4.83 EGP

The strong financial conditions of CIB is considered a strength point.

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 4.3. VRIO MODEL
Value Rare Inimitable Organized
Large Customer Base Y N N Y
Wide range of products and services Y N N Y
Strong geographical network Y Y N Y
coverage
Strong Brand Name Y N N Y
Strong Digital innovation Y Y Y Y Competitive Advantage
Strong Human Capital Y N N Y
Strong Financial Position Y N N Y

The strong digital innovation of CIB is considered as a competitive advantage, which is a very
difficult aspect to achieve in a high competition and growing industry.

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 4.4. INTERNAL FACTOR A NALYSIS SUMMARY (IFAS)

IFAS Internal Factors Weight Rate Total

1 Large Customer Base 0.1 4 0.4

2 Wide range of products and services 0.05 2 0.1
3 Strong geographical network coverage 0.05 3 0.15
Strengths

4 Strong Brand Name 0.1 4 0.4

5 Strong Digital innovation 0.1 4 0.4
6 Strong Human Capital 0.1 4 0.4
7 Strong Financial Position 0.1 3 0.3
8 Strong Environmental & Social responsibility 0.05 3 0.15
Sub Total 0.65 2.3
1 Centralized distribution of branches 0.1 2 0.2
Weaknesses

2 Low operations efficiency 0.05 2 0.1

3 Not enough touch points with the customers 0.1 3 0.3
4 Not attractive marketing campaigns 0.1 3 0.3
Sub Total 0.35 0.9
Total 1 3.2

As the total points of the weighted score is more than 2.5, the Internal environment is favorable.

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 STRATEGIC FACTORS ANALYSIS SUMMARY (SFAS)
Strategic Factors Weight Rate Total
1 Country direction towards digital transformation 0.1 4 0.4
2 Newly introduced technologies in AI, big data, 0.05 4 0.2
and cloud computing are ready solutions
Opportunity

available to be implemented
3 Increasing numbers of digital banking users 0.05 3 0.15
4 Direction of going green supported by the 0.05 3 0.15
government
Sub Total 0.25 0.9
1 High inflation rates 0.05 2 0.1
2 Foreign currency scarcity in Egypt (USD/EUR) 0.05 2 0.1
Threats

3 unstable Exchange Rate 0.05 1 0.05

4 Poor technology Infrastructure 0.025 2 0.05
5 Cybersecurity attacks 0.075 3 0.225
Sub Total 0.25 0.525
1 Large Customer Base 0.05 4 0.2
2 Wide range of products and services 0.025 2 0.05
3 Strong geographical network coverage 0.025 3 0.075
4 Strong Brand Name 0.05 4 0.2
Strengths

5 Strong Digital innovation 0.05 4 0.2

6 Strong Human Capital 0.05 4 0.2
7 Strong Financial Position 0.05 3 0.15
8 Strong Environmental & Social responsibility 0.025 3 0.075
Sub Total 0.325 1.15
1 Centralized distribution of branches 0.05 2 0.1
Weaknesses

2 Low operations efficiency 0.025 2 0.05

3 Not enough touch points with the customers 0.05 3 0.15
4 Not attractive marketing campaigns 0.05 3 0.15
Sub Total 0.175 0.45
Total 1 3.025

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 Quadratic Analysis

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 5. STRATEGY FORMULATION
5.1. SWOT

Strengths Weaknesses
S1 Large Customer Base W1 Centralized distribution of branches
S2 Wide range of products and services W2 Low operations efficiency
S3 Strong geographical network W3 Not enough touch points with the
coverage customers
S4 Strong Brand Name W4 Not attractive marketing campaigns
S5 Strong Digital innovation
S6 Strong Human Capital
S7 Strong Financial Position
S8 Strong Environmental & Social
responsibility
Opportunities Threats
O1 Country direction towards digital T1 High inflation rates
transformation
O2 Newly introduced technologies in AI, T2 Foreign currency scarcity in Egypt
big data, and cloud computing are (USD/EUR)
ready solutions available to be
implemented
O3 Increasing numbers of digital banking T3 unstable Exchange Rate
users
O4 Direction of going green supported by T4 Poor technology Infrastructure
the government
T5 Cybersecurity attacks

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 5.2. TOWS

Strengths Weaknesses
S1 Large Customer Base W1 Centralized distribution of branches
S2 Wide range of products and services W2 Low operations efficiency
S3 Strong geographical network coverage W3 Not enough touch points with the
Internal customers
Factors S4 Strong Brand Name W4 Not attractive marketing campaigns
External S5 Strong Digital innovation
S6 Strong Human Capital
Factors
S7 Strong Financial Position
S8 Environmental & Social responsibility
Opportunities MAXI-MAX / ATTACK MINI MAX/DIVERSIFY
O1 Country direction towards digital transformation S8,O4
O2 Newly introduced technologies S5,O1,O2,O3,O4
O3 Increasing numbers of digital banking users
O4 Direction of going green supported by the
government
Threats MAXI MIN/TURN AROUND (reorganization- MINI MIN/DEFEND
T1 High inflation rates Retrenchment- Repositioning)
T2 Foreign currency scarcity in Egypt (USD/EUR)
T3 unstable Exchange Rate S7,T5
T4 Poor technology Infrastructure
T5 Cybersecurity attacks

From TOWS, Intensive strategies are on priority, such as product development, market penetration & market development.

- MAXI-MAX : CIB Can use the strengths of Strong digital innovation, and strong environmental direction, with the
opportunities of direction of government to support green projects, and digital transformation, taking the advantage of the newly
introduced technologies.
- MAXI MIN : CIB use the strength of the strong financial position, and increase the investments in cybersecurity.

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 5.3. INTERNAL – EXTERNAL MATRIX (IE)

4
1 2 3
External Factors Evaluation

High
3
*2.8 4 5
Medium
6
2
7 8 9
Low
1
1 2 3 4
*3.2
Weak Average Strong

Internal Factors Evaluation

CIB has IFE score of 3.2 (X-Axis), and EFE 2.8 (Y-Axis) score, it is in the build &
grow area of the IE Matrix

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 5.4. STRATEGIC POSITION AND ACTION EVALUATION (SPACE) MATRIX

FS
Aggressive
6 Market Penetration, Market, Development,
Product Development, Diversification,
5
Conservative
4

1
CA IS
-6 -5 -4 -3 -2 -1 0 +1 +2 +3 +4 +5 +6

-1

-2

Defensive -3 Competitive
-4

-5

-6

ES

Financial Strength (FS) Score Environmental Stability (ES) Score

Working Capital 5 Technological changes -5
Cash flow 5 Risk Involved in Business -1
Return on investment 5 Rate of inflation -6
Earnings per share 6 Barriers to market entry -1
Ease to Exit from market 2
AVG 5 AVG -3
Industrial strength (IS) Score Competitive advantage (CA) Score
Growth potential 4 Market share -1
Profit potential 5 Product quality -1
Ease of market entry 1 PLC -2
Capital intensity 4 Customer loyalty -1
Control over suppliers -2
Control over distributers -2
Technological Know how -1
AVG 4 AVG -1

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 After analyzing the four factors of the SPACE Matrix, Average Scores are, (5) to the internal
financial strength , (-3) to the external environment stability, (-1) to internal competitive
advantage, and (4) to external industrial strength.

The summation of the horizontal points (IS) & (CA) = +3 (X)

The summation of the vertical points (FS) & (ES) = +2 (Y)

The direction is an aggressive strategy.

Intensive
Market penetration:
Increase market share for present services in present markets through more marketing efforts.
Market development:
Introducing present services into new geographic areas.
Product development:
Adding new or extra features to an existing service

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 5.5. QUANTITATIVE STRATEGIC PLANNING MATRIX (QSPM)
Product Market Market
Strategic Factors Weight Development development Penetration

AS TAS AS TAS AS TAS

Opportunities
Country direction towards digital
1 0.1 3 0.3 2 0.2 3 0.3
transformation
Newly introduced technologies in AI, big
2 data, and cloud computing are ready solutions 0.05 4 0.2 3 0.15 3 0.15
available to be implemented
3 Increasing numbers of digital banking users 0.05 2 0.1 1 0.05 2 0.1
Direction of going green supported by the
4 0.05 3 0.15 1 0.05 2 0.1
government
Sub-total 0.25 0.75 0.45 0.65
Threats
1 High inflation rates 0.05 3 0.15 3 0.15 3 0.15
Foreign currency scarcity in Egypt
2 0.05 3 0.15 3 0.15 2 0.1
(USD/EUR)
3 unstable Exchange Rate 0.05 3 0.15 3 0.15 2 0.1
4 Poor technology Infrastructure 0.025 1 0.025 1 0.025 1 0.025
5 Cybersecurity attacks 0.075 2 0.15 2 0.15 3 0.225
Sub-total 0.25 0.625 0.625 0.6
Strengths
1 Large Customer Base 0.05 3 0.15 3 0.15 3 0.15
2 Wide range of products and services 0.025 3 0.075 3 0.075 1 0.025
3 Strong geographical network coverage 0.025 2 0.05 2 0.05 1 0.025
4 Strong Brand Name 0.05 3 0.15 3 0.15 1 0.05
5 Strong Digital innovation 0.05 4 0.2 4 0.2 1 0.05
6 Strong Human Capital 0.05 2 0.1 2 0.1 2 0.1
7 Strong Financial Position 0.05 2 0.1 2 0.1 1 0.05
8 Strong Environmental & Social responsibility 0.025 3 0.075 3 0.075 2 0.05
Sub-total 0.325 0.9 0.9 0.5
Weaknesses
1 Centralized distribution of branches 0.05 2 0.1 2 0.1 2 0.2
2 Low operations efficiency 0.025 3 0.075 3 0.075 2 0.15
3 Not enough touch points with the customers 0.05 3 0.15 3 0.15 3 0.45
4 Not attractive marketing campaigns 0.05 4 0.2 4 0.2 1 0.2
Sub-total 0.175 0.525 0.525 1
Total 1 2.8 2.5 2.75
Decision: Product development strategy is selected based on scoring which considers the factors of the high
competitiveness, instability and uncertainty of market conditions.

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 Strategic Objectives & Implementation

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 6. STRATEGIC OBJECTIVES

1. Improve Quality of service by 20%, by introducing digital enhancement on current e-

wallet application for more features and benefits.

2. As a means of addressing environmental sustainability, apply the environmental

sustainability guidelines to 20% of old branches, and 100% to new branches (Green
walls, ATM receipt paper saving initiatives, improving air quality)

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 7. IMPLEMENTATION AND CONTROL

7.1. INTERNAL POLICIES

The implementation of the best corporate governance practices available worldwide serves as the
underpinning for CIB's governance system. This enables a stronger concentration on the internal
control departments' reporting processes, the independence of external and internal auditing,
collaboration with supervisory and regulatory authorities, and the assurance of the disclosure and
transparency of material information pertaining to the Bank, its ownership, the makeup of its board
of directors, its operations, and its financial performance.

The CIB Code of Corporate Governance describes the role and composition of the Board of
Directors, relationships with shareholders and executive management, the function of internal
control departments, reporting transparency, and information disclosure in order to protect
shareholder investments and foster a culture of integrity, accountability, and trust.

The code's goal is to mitigate any negative effects on stakeholders that may result from failing to
adhere to corporate governance requirements and best practices.

The three main policies that are implemented on all CIB activities are:

Code of Conduct:

• The Code of Conduct outlines the guiding ideals and values that are crucial to establishing
our deserving reputation and our competitive excellence, on which we base our continued
strength and adaptability as a bank.

Conflict of Interest:

• The Conflict-of-Interest policy regulates circumstances when employees receive personal

gain from decisions that go against the interests of the Bank and handle potential conflicts
of interest.

The Disclosure Policy:

• In compliance with all relevant legal obligations, the Disclosure Policy makes sure that
communications with the public, investors, employees, customers, and other stakeholders
are reliable, accurate, balanced, and widely distributed.

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 In addition to the main policies, additional -but not limited to-policies needs to be considered while
implementing the strategic objectives:

Information Security Policy:

An information security policy that details the precautions taken to protect this data is
crucial because digitization entails the processing and storage of sensitive consumer data.
Data security, encryption, access restrictions, and incident response processes should all
be covered under the policy.

IT Governance Policy:

The procedures and regulations that guarantee the effective and efficient use of technology
are outlined in an IT governance policy. The objectives of the bank's technology should be
in line with this policy, which should also outline the duties and responsibilities of IT staff
and specify the procedures for making technology investment decisions.

Compliance Policy:

It is essential to make sure that the digitization project complies with all relevant rules and
regulations because banks are subject to a lot of regulation. Guidance on regulatory
requirements, such as those pertaining to data privacy, data retention, and anti-money
laundering, should be provided via the compliance policy.

Risk Management Policy:

New risks brought on by digitization include cyberthreats and technological setbacks. The
project's risks should be identified in the risk management policy, and measures should be
put in place to reduce them.
The risk management policy should be updated to include environmental risk assessments.
The policy should identify the environmental risks associated with the bank's operations
and define the measures that should be taken to mitigate those risks.

Customer Service Policy:

It is crucial to take the bank's customer service policy into account because the digitization
project should improve the client experience. The bank's commitment to providing
excellent customer service should be outlined in this policy, along with service level
agreements and the procedures for managing client complaints and disputes.

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 Human Resources Policy:

The bank may need new positions and capabilities as a result of the digitization process.
The human resources policy ought to offer recommendations for selecting, educating, and
keeping the project's essential staff members

Project Management Policy:

To guarantee that the digitization project is delivered on time, within budget, and in
accordance with the necessary quality standards, competent project management is
essential. Assigning roles and responsibilities as well as defining the project management
processes should all be part of the project management policy.

Environmental Policy:

The bank should create an environmental policy outlining its dedication to sustainability
and the environment. It should be clear what the bank intends to do to lower its
environmental effect, including cutting back on carbon emissions, using less energy and
water, and producing less waste.

Procurement Policy:

To ensure that the bank only buys goods and services from environmentally conscious
vendors, the procurement policy needs to be updated. Suppliers with ecologically friendly
practices, resources, and products should be given priority under the policy.

Training Policy:

To equip staff with the abilities and information required to meet the bank's environmental
sustainability goals, the training policy needs to be updated. Programs for training on
sustainability practices, such as energy conservation, waste reduction, and sustainable
procurement, should be established under the policy.

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 7.2. ACTION PLAN
Strategy Product development
Objective Improve Quality of service by 20%, by introducing digital enhancement on current e-wallet application for
more features and benefits.
Time Frame 2023-2024
Functions Functional goals Procedures Resources KPIs Freq.
• Increase marketing • Use celebrities. • Money • Number of sales • Monthly
mass media and • New marketing • Time • NPS • Monthly
Marketing
online campaigns. campaigns in • People
Ramadan
• Issue CBE license for • Improve new wallet. • Time • Number of new solutions. • Annual
IT the new wallet. • Operate and maintain • Money • Downtime • Monthly
(Key • Launch and operate the new wallet. • People
player/Leader) the new wallet • Report feedback on • knowhow
the new wallet
• Hiring talented • Recruitment & • People • Retention rate • Annual
Human innovative employees. Selection • Time • Training efficiency • Annual
Resource • Increase efficiency of • Training & • Knowhow • Hiring efficiency
IT staff by 20% Development
• Provide customer • Operations planning • People • No. of cost saving ideas. • Quarterly
service & technical • Operations • Time
Operations
support teams with efficiency.
new e-wallet features.
• Increase budget for IT • Cost Saving • People • Liquidity • Annual
& Marketing initiatives. • Time
Finance
• Reduce operations • Money
expenses. • Knowhow

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 Strategy Product development
Objective In coping with sustainability, apply the environmental sustainability to more of old branches, and for all new branches
(Green walls, ATM receipt paper saving initiatives, ATM and full branches powered by solar, improving air quality)
Time Frame 2023-2026
Functions Functional goals Procedures Resources KPIs Freq.
• Involve • Use celebrities. • Money • Number of • Annual
environmental • New marketing • Time customers apply
Marketing sustainability in the campaigns in • People for sustainability
marketing campaigns. Ramadan programs

• Issue sustainability • Environmental • Time • number and rank • Monthly

guidelines for new management system • Money of non- • Quarterly
Safety &
branches • Audit the • People conformities.
Environmental
• Issue sustainability implementation of the • knowhow • Best practices
sustainability
guidelines for old guidelines record.
(Key
branches
player/Leader)
• Issue sustainability
guidelines for ATMs
• Include adherence to • Performance • People • Rate of • Annual
sustainability management • Time Sustainability • Quarterly
guidelines to • Communication rates in
Human employee performance
Resource performance. appraisal.
• Support employee • Number of
initiatives by initiatives
employees
• Increase budget for • Cost Saving • People • Liquidity • Annual
Finance
safety and initiatives. • Time
environmental • Money
sustainability

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 Balanced Score Card
Area of Objectives Target KPI Time
objectives measure Y1 Y2 Y3
Increase ROI for new projects 15% ROI 3% 5% 7%
Financial Increase budget for environmental sustainability 20% No. of green branches 3% 5% 10%
Increase budget for digital innovation 15% Average revenue per user 5% 5% 5%
Increase customer loyalty 13% NPS 3% 3% 4%
Provide simple to use banking mobile 12% App rating on app store and 3% 3% 3%
Customer application google play
Provide pleasant branch visits 12% NPS 3% 3% 3%
Increase number of innovative solutions within 15% Number of improvement projects 5% 5% 5%
the internal process.
Process
Increase adherence to energy consumption 10% Energy consumption rate 2% 3$ 5%
saving policy
Increase quality of knowledge management 5% Knowledge contribution rate 1.5% 1.5% 2%
Learning sharing sessions.
and growth
perspective Increase employee’s engagement to 10% Environmental assessment score 2% 3% 5%
environmental sustainability

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 Business Plan

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 BUSINESS PLAN
1. MARKETING PLAN
1.1. Summary:
Commercial International Bank (CIB),The largest private sector bank in Egypt, provides its
clients with a vast array of financial goods and services.
The bank was founded in 1975 and has since expanded to become one of Egypt's biggest banks
with a significant position in the banking industry.
The primary line of business for CIB is banking, and it provides a variety of financial services
and products, including wealth management, investment banking, corporate banking, and
personal banking. The bank offers services to a wide range of clients, including individual
citizens, large corporations, small and medium-sized businesses, and governmental organizations.
With approximately 210 branches and offices spread out over Egypt, the United Arab Emirates,
and Africa. The bank takes great satisfaction in offering its clients cutting-edge financial
solutions, top-notch customer support, and a dedication to corporate social responsibility.
For its financial success and customer service, CIB has won various awards. The bank is dedicated
to investing in technology solutions, such as online and mobile banking systems, data analytics,
and artificial intelligence, to improve its operations and customer service.
CIB is a publicly traded company and is listed on the Egyptian Stock Exchange (COMI , weight
32.26%) and the London Stock Exchange (CBKD).

1.2. Marketing Objectives

▪ Increase customer satisfaction by 20% in 2023-2024

▪ Increase brand loyalty by 10% in 2023-2024

1.3. Customer Base:

B2C,B2B,B2G
• Individuals:
CIB serves a wide range of individual customers, including students, working professionals,
retirees, and high net worth individuals.
• SMEs:
CIB offers specialized banking solutions for small and medium-sized enterprises (SMEs) in
Egypt.
• Large Corporations:
CIB also serves large corporations in Egypt, offering them more complex banking solutions.
The bank is a dedicated team of corporate banking experts who work closely with large
corporations to provide customized banking solutions that meet their specific needs.

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 • Government Entities:
CIB provides banking services to government entities in Egypt, the bank has a strong
relationship with the Egyptian government and has been involved in several major projects in
the country.

1.4. Brand Image:

key elements of CIB's brand image:

• Trust and Credibility:

CIB is widely recognized as a trusted and credible financial institution in Egypt. The bank has a
long history (48 Years in the Egyptian market) of providing reliable and high-quality financial
services to its customers and has won numerous awards for its products and services.

• Innovation and Technology:

CIB is known for its focus on innovation and technology and has invested in developing advanced
digital banking solutions to enhance the customer experience. The bank offers online and mobile
banking platforms that allow customers to manage their finances conveniently and securely.

• Customer Service:

CIB places a strong emphasis on customer service and has a dedicated team of customer service
representatives who are available to assist customers with their banking needs. The bank also
offers personalized financial advice and solutions to help customers achieve their financial goals.

• Corporate Social Responsibility:

CIB is committed to corporate social responsibility and has implemented several initiatives to
support the community and promote sustainable development. The bank has launched programs
to support education, health, and environmental conservation, and has received recognition for its
efforts in this area.

• Strong Market Position:

CIB has a significant market share (7.27%) in Egypt's banking sector and is recognized as a leading
financial institution in the country. The bank's strong market position and reputation have helped
to drive its growth and success in the highly competitive banking sector.

1.5. Marketing strategy:

• Differentiation

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 1.6. Segmentation:

Segmentation Segment 1 Segment 2

Factor
Age: Gen.Y Generation: Gen.X
Gender: Male/Female Age: 40-50
Disposable income: 20 EGP+/month Gender: male/Female
Education: disposable income: 30 EGP+/month
According to data from the family size: 4
(theglobaleconomy, 2021) (ages 15-24) Education:
Demographic in Egypt was 91.51 %. According to data from the (The global
Employment: Economy, 2021), as of 2019, the adult
according to ((ILO), 2021), youth literacy rate (ages 15 and above) in
unemployment rate is 22.5% Egypt was 73.9%.
Employment:
According to data from the (CAPMAS,
2022) as of 2019, the labor force
between the ages of 40 and 49 was
approximately 81%.
psychographics Values: Values:
individualism, family, education, and hard work. They
self-expression, and personal growth. also place a high value on stability and
high value on education and social security.
responsibility. Behaviors:
Behaviors: (euromonitor, 2022), Generation X in Egypt is increasingly
Gen Y, increasingly using digital using digital channels for banking and
channels for shopping and entertainment. shopping. They also value experiences
They also value convenience and are and are willing to pay for quality
willing to try new products and services. products and services.
According to (World bank, 2018), 43% According to (World bank, 2018), 43%
Geographic of Egyptian population is living in Urban of Egyptian population is living in
areas. Urban areas.

Behavioral Active Digital behavior , brand Active Digital behavior, brand loyal,
preferences, value travel, influenced by value travel, influenced by media,
media conservative spending behaviors, prefer
investment in real estate.

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 1.7. Targeting

Targeted segment Need Benefits

• Digital banking • Online banking
solutions • Mobile banking
• Customized • Student banking
Segment 1 : Gen Y
banking services • Priority banking
• Social • products and services that
responsibility and promote environmentally
sustainability friendly practices and
support local communities.
• Financial stability • savings and investment
and security products
Segment 2 : Gen X • Convenience and • ATM & Branches network
accessibility • Online banking
• Mobile banking

1.8. Positioning:

CIB, “The Bank to Trust” slogan, is highly transferring the message of credibility and confidence,
and it needs to deliver this message to the targeted segment intensively, as a trustworthy
destination they can head to when it comes to financial services.
1.9. Competitive advantage:
• Digitalization
• Environmental responsibility
1.10. Products and services
Personal Banking Corporate Banking Investment Banking
• Savings Accounts • Deposit Accounts • Underwriting
• Checking • Loans • Mergers and Acquisitions (M&A)
Accounts • Trade Finance Advisory
• Debit Cards • Foreign Exchange • Debt and Equity Capital Markets
• Credit Cards • Cash Management • Project Finance
• Personal Loans • Investment Banking • Research and Analysis
• Mortgages Services
• Treasury Products
Wealth Management Digital Banking Card Services:
• Private Banking • Online Banking • Credit Cards
• Asset Management • Mobile Banking • Debit Cards
• Financial Planning • SMS Banking • Prepaid Cards
• Investment • E-wallets • Co-branded Cards
Products • Cardholder Benefits

Islamic Banking
• Shariah-compliant Deposit Accounts
• Shariah-compliant Financing
• Shariah-compliant Investment Products

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 1.11. Pricing

CIB can use a value-based pricing strategy to set prices based on the perceived value of its
products and services. This can help the bank to differentiate itself from competitors and attract
customers who are willing to pay more for high-quality banking solutions.
With respect to dynamic pricing strategy to set prices that vary based on factors such as
demand, supply, and competition, and adjusting prices in response to market fluctuations.

1.12. Place

Offline Online
Branches and ATMs CIB's Website
Events and sponsorships Social Media
Print and broadcast media Email marketing
Mobile apps

1.13. Promotion

Pull strategy.
Offline Online
In-branch promotions Social media advertising
Direct mail Search engine marketing
Events and sponsorships Influencer marketing
Media advertising

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 2. OPERATIONAL PLAN

Below are the steps and guide lines for developing the operational plan :

2.1. Objective:
The objective of the operational plan is to define clearly, the digitization & environmental
sustainability strategic goals, and expected results.
2.2. Gap analysis:
The gap analysis shows the current state of the digital & environmental capabilities and
infrastructure and describe the areas for improvements to meet the strategic objectives, such a
study requires going into each single process and Conduct an assessment audit
Roadmap:
The roadmap is the outline of the steps needed to achieve the strategic goals, including the ,
required polices, work breakdown structure (WBS), resources needed (Man,
Machine/Technology, Money, material) , with representation of timelines and milestones.
2.3. KPIs :
Each activity in the roadmap should be combined with its own performance indicator, in our
case, KPIs can be for the digitalization objective, customer satisfaction, number of app
download, number of transactions, downtime, error%, active users, average revenue per user,
and for the environmental sustainability objective, can be , energy consumption, employee
engagement, community impact, sustainable financing, renewable energy usage, waste
reduction, paper usage, carbon footprint, sustainable procurement practices. , and cost savings
due to environmental sustainability.
2.4. Resources allocation:
Budget, people, and technology, needs allocation to implement the operational plan, involving
new hires, training programs, investing in renewable energy sources, implementing sustainable
procurement practices, and developing training programs for staff to promote sustainable
practices, skills and competencies required to achieve the objectives.
2.5. Implement the plan:
CIB should implement the operational plan according to the roadmap and timeline. This may
involve launching new digital products or services, upgrading existing systems and processes,
and testing and refining new digital capabilities.
2.6. Monitor and evaluate:
CIB should monitor the performance of the digitization strategy and evaluate its effectiveness
against the identified KPIs. This may involve adjusting the plan as needed to ensure that the
objectives are achieved.

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 3. FINANCIAL PLAN

3.1. Historical Financial Statements:

3.1.1. Financial Position statement

2022 2021 2020 2019

Period Ending:
31/12 31/12 31/12 31/12
Total Current Assets 196468.09 134168.32 - -
Total Assets 635831.92 498235.84 427842.17 386742.37
Cash & Due from Banks 93568.91 61731.65 37471.34 32586.55
Other Earning Assets, Total 48322.41 24382.68 259383.68 226794.17
Net Loans 196578.07 145887.46 119570.01 119321.1
Property/Plant/Equipment, Total - Net 1495.5 1394.79 2311.15 2204.46
Property/Plant/Equipment, Total -
- 3379.6 5619.8 4873.2
Gross
Accumulated Depreciation, Total -2270.76 -1984.81 -3308.66 -2668.73
Goodwill, Net 96.27 137.52 178.78 -
Intangibles, Net 24.19 34.55 44.92 -
Long Term Investments 238731.56 213951.67 139.87 107.69
Other Long Term Assets, Total 1342.57 1139.19 437.77 350.34
Other Assets, Total 6727.89 24719.72 8304.65 5378.05
Total Current Liabilities 549678.02 418538.67 - -
Total Liabilities 567493.75 428933.1 368366.41 334861.92
Accounts Payable 542635.45 412871.71 4415.62 7369.27
Payable/Accrued - - - -
Accrued Expenses 3771.24 3166.5 1319.65 1027.53
Total Deposits - 408107.59 349986.98 316259.06
Other Bearing Liabilities, Total 7978.98 5140.78 - -
Total Short Term Borrowings 219.75 265.47 - -
Current Port. of LT Debt/Capital Leases - 555.54 - -
Other Current liabilities, Total 3051.58 2234.98 859.58 4639.36
Total Long Term Debt 10435.58 6698.04 7746.95 3272.75
Long Term Debt 10435.58 6698.04 7746.95 3272.75
Capital Lease Obligations - - - -
Deferred Income Tax - - - -
Minority Interest 580.43 454.54 483.06 -
- -
Other Liabilities, Total 3554.57 2293.96
536512.26 410271.99

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 Financial Position (Cont.)

2022 2021 2020 2019

Period Ending:
31/12 31/12 31/12 31/12
Total Equity - 69302.74 59475.76 51880.44
Redeemable Preferred Stock, Total - - - -
Preferred Stock - Non Redeemable, Net - - - -
Common Stock, Total 29825.13 19702.42 14776.81 14690.82
Additional Paid-In Capital - - - -
Retained Earnings (Accumulated Deficit) - 46810.06 39171.25 31520.73
Treasury Stock - Common - - - -
ESOP Debt Guarantee - - - -
Unrealized Gain (Loss) - 641.37 3975.51 4111.78
Other Equity, Total 22119.19 2790.26 1552.18 1557.11
Total Liabilities & Shareholders' Equity 635831.92 498235.84 427842.17 386742.37
Total Common Shares Outstanding 2982.51 2964.05 2964.05 3177.22
* In Millions of EGP (except for per share items)

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 3.1.2. Cash Flow statement
2022 2021 2020 2019
Period Ending:
31/12 31/12 31/12 31/12
Net Income/Starting Line 16114.39 13272.21 15236.31 16534.88
Cash From Operating Activities - -34606.3 29185.96 21614.26
Depreciation/Depletion 380.2 395.64 733.03 576.54
Amortization - 10.37 34.42 238.72
Deferred Taxes - - - -
Non-Cash Items 4791.98 7646.29 2344.22 2093.52
Cash Receipts - - - -
Cash Payments - - - -
Cash Taxes Paid - 3444.75 3779.78 3625.58
Cash Interest Paid - - - -
Changes in Working Capital -81275 -56420.22 10837.98 2170.59
Cash From Investing Activities - -43762.72 22525.67 -29978.97
Capital Expenditures - -981.19 -1091.83 -1303.18
Other Investing Cash Flow Items,
- -42781.54 23617.5 -28675.79
Total
Cash From Financing Activities 123814.7 63638.47 1189.73 -3043.91
Financing Cash Flow Items 124375.01 66048.02 - -
Total Cash Dividends Paid -4420.57 -1360.65 -3370.46 -2700.54
Issuance (Retirement) of Stock,
122.72 - 85.99 105.41
Net
Issuance (Retirement) of Debt,
3737.54 -1048.9 4474.2 -448.78
Net
Foreign Exchange Effects - - - -
Net Change in Cash 31903.7 -14730.55 52901.36 -11408.63
Beginning Cash Balance 61665.2 76462.2 - 11408.63
Ending Cash Balance 93568.91 61731.65 - -
Free Cash Flow - - - 20311.08
Free Cash Flow Growth - - - -
Free Cash Flow Yield - -33.88 -9.86 0.952
* In Millions of EGP (except for per share items)

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 3.1.3. Income statement

2022 2021 2020 2019

31/12 31/12 31/12 31/12
Net Interest Income 31057.31 25025.52 25172.42 21578.62
Interest Income,
55776.11 45137.89 42196.24 42600.96
Bank
Total Interest
24718.8 20112.38 17023.81 21022.34
Expense
Loan Loss Provision 1584.94 1679.75 5018.78 1435.46
Net Interest Income
29472.37 23345.77 20153.64 20143.16
After Loan Loss Provision
Non-Interest Income,
6989.99 3696.58 4533.99 4799.74
Bank
Non-Interest Expense,
-12482.02 -8167.74 -9451.33 -8408.02
Bank
Net Income Before Taxes - 18833.36 15236.31 16534.88
Provision for Income
7769.14 5565.6 4999.98 4733.89
Taxes
Net Income After Taxes 16172.15 13267.76 10236.32 11801
Minority Interest 580.43 454.54 1.83 -
Equity In Affiliates - - - -
U.S GAAP Adjustment - - - -
Net Income Before
16114.39 13272.21 10238.16 11801
Extraordinary Items
Total Extraordinary Items - - - -
Net Income 16114.39 13272.21 10238.16 11801
Total Adjustments to Net
- -1248.49 -1045.34 -1359.62
Income
Income Available to
Common Excluding - 12023.72 10238.16 11801
Extraordinary Items
Dilution Adjustment 1724.09 1245.66 1049.71 1352.73
Diluted Net Income 14390.3 12026.55 9188.45 10448.27
Diluted Weighted
3371.21 3010.52 2985.59 2956
Average Shares
Diluted EPS Excluding
- 4.03 3.08 3.53
Extraordinary Items
DPS - Common Stock
0.538 0.9 - 0.623
Primary Issue
Diluted Normalized EPS 4.96 3.95 3.19 3.5
* In Millions of EGP (except for per share items)

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 3.2. CIB summary statements with ratios

* In Millions of EGP (except for per share items)

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 3.3. Financial forecast

2018 2019 2020 2021 2022 2023 2024

REVENUES 32.90 26.70 25.90 23.00 20.38 22.42 24.66
NET PROFIT 9.80 10.90 10.30 13.40 16.11 17.72 19.49
EPS 5.76 7.33 6.26 6.1 4.83 5.31 5.84
ROA 2.86% 2.88% 2.53% 3.43% 3.06% 3% 4%

While there will with no doubt difficulties in the future, the projections show that there will also
be chances for expansion and achievement. The bank may put itself in the best possible position
for long-term profitability and success in a competitive and changing market by concentrating on
cost control, customer engagement, strategic alliances, and risk management.

SUMMARY
• The Vision, Mission & Core values of CIB needs amendments to be more alive.
• Both external and internal environments are favorable for CIB.
• The position of CIB in Egyptian market is strong and have several opportunities to build
and grow.
• With the uncertainty and instability of the global economy, it is recommended for CIB to
not expand investments in new markets or new services, instead it is recommended to focus
more on enhancing quality of current services and maintain the good position and lead new
changes within current portfolio of services.
• Targeted segments of CIB are dramatically changing, so the strategies of marketing shall
be in close monitor with it to keep aligned with the needs and provide the convenient
benefits for it.
• CIB bond with the Egyptian government, should be maintained, and even increased, as
banking industry is highly impacted by the governmental investment directions.
• CIB leadership team shall keep a close eye on the human capital investments, especially in
the areas of digitalization, and environmental sustainability.
• Finally, CIB should focus on automating internal operations, and seek higher operational
efficiency and cost savings.

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