Egyptian bank CIB’s shares swing wildly on reports of chairman exit

Egyptian bank CIB’s shares swing wildly on reports of chairman exit

Egyptian bank CIB's shares swing wildly on reports of chairman exit

Egyptian bank CIB's shares swing wildly on reports of chairman exit

Egyptian bank CIB's shares swing wildly on reports of chairman exit

Short Url

Egyptian bank CIB's shares swing wildly on reports of chairman exit

Claims Hisham Ezz Al-Arab dismissed for malpractice spark dramatic plunge and trading suspension

Updated 24 October 2020

LONDON: The London-listed shares of Egypt's Commercial International Bank (CIB) rebounded on Friday after plunging more than

40 percent in morning trade after local media reports that its chairman had been dismissed.

CIB, Egypt's biggest listed bank, has substantial foreign holdings and Chairman Hisham Ezz Al-Arab is among the country's leading bankers and a well-known figure in Middle Eastern finance.

The bank, Ezz El-Arab and the Egyptian central bank did not respond to requests for comment from