OTCPK:CIBE.Y

Stock Analysis Report

Commercial International Bank -EgyptE

Executive Summary

Commercial International Bank -Egypt S.A.E provides retail, corporate, and investment banking services in Egypt.

Rewards

Trading at 11.3% below its fair value

Earnings are forecast to grow 10.04% per year

Earnings grew by 31.3% over the past year

Risk Analysis

No risks detected for CIBE.Y from our risk checks.


Snowflake Analysis

Solid track record with excellent balance sheet.


Similar Companies

Share Price & News

How has Commercial International Bank -EgyptE's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CIBE.Y has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.4%

CIBE.Y

2.7%

US Banks

1.1%

US Market


1 Year Return

48.5%

CIBE.Y

22.7%

US Banks

17.8%

US Market

Return vs Industry: CIBE.Y exceeded the US Banks industry which returned 22.7% over the past year.

Return vs Market: CIBE.Y exceeded the US Market which returned 17.8% over the past year.


Shareholder returns

CIBE.YIndustryMarket
7 Day-0.4%2.7%1.1%
30 Day-6.7%0.9%1.4%
90 Day-2.7%10.0%3.9%
1 Year50.5%48.5%26.3%22.7%20.3%17.8%
3 Year59.8%55.3%31.8%22.6%44.8%35.4%
5 Year24.4%16.8%80.2%60.2%71.3%52.4%

Price Volatility Vs. Market

How volatile is Commercial International Bank -EgyptE's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Commercial International Bank -EgyptE undervalued compared to its fair value and its price relative to the market?

11.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CIBE.Y ($4.67) is trading below our estimate of fair value ($5.26)

Significantly Below Fair Value: CIBE.Y is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: CIBE.Y is good value based on its PE Ratio (10.9x) compared to the Banks industry average (12.7x).

PE vs Market: CIBE.Y is good value based on its PE Ratio (10.9x) compared to the US market (18.4x).


Price to Earnings Growth Ratio

PEG Ratio: CIBE.Y is poor value based on its PEG Ratio (1.1x)


Price to Book Ratio

PB vs Industry: CIBE.Y is overvalued based on its PB Ratio (2.4x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is Commercial International Bank -EgyptE forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?

10.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CIBE.Y's forecast earnings growth (10% per year) is above the savings rate (1.7%).

Earnings vs Market: CIBE.Y's earnings (10% per year) are forecast to grow slower than the US market (14.2% per year).

High Growth Earnings: CIBE.Y's earnings are forecast to grow, but not significantly.

Revenue vs Market: CIBE.Y's revenue (11.8% per year) is forecast to grow faster than the US market (7.4% per year).

High Growth Revenue: CIBE.Y's revenue (11.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CIBE.Y's Return on Equity is forecast to be high in 3 years time (22.6%)


Next Steps

Past Performance

How has Commercial International Bank -EgyptE performed over the past 5 years?

24.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CIBE.Y has high quality earnings.

Growing Profit Margin: CIBE.Y's current net profit margins (45.6%) are lower than last year (45.9%).


Past Earnings Growth Analysis

Earnings Trend: CIBE.Y's earnings have grown significantly by 24.3% per year over the past 5 years.

Accelerating Growth: CIBE.Y's earnings growth over the past year (31.3%) exceeds its 5-year average (24.3% per year).

Earnings vs Industry: CIBE.Y earnings growth over the past year (31.3%) exceeded the Banks industry 27.1%.


Return on Equity

High ROE: CIBE.Y's Return on Equity (22.2%) is considered high.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Commercial International Bank -EgyptE's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: CIBE.Y has a low level of unsold assets or inventory.

Debt Coverage by Assets: CIBE.Y's debt is covered by short term assets (assets are 16.6x debt).


Financial Institutions Analysis

Asset Level: CIBE.Y's level of assets compared to its equity is low.

Allowance for Bad Loans: CIBE.Y has a sufficient allowance for bad loans.

Low Risk Liabilities: CIBE.Y's liabilities are made up of primarily low risk sources of funding.

Loan Level: CIBE.Y has an acceptable proportion of non-loan assets held.

Low Risk Deposits: CIBE.Y's loans are broadly funded by customer deposits.

Level of Bad Loans: CIBE.Y has a high level of bad loans (5.24%)


Next Steps

Dividend

What is Commercial International Bank -EgyptE's current dividend yield, its reliability and sustainability?

1.03%

Current Dividend Yield


Dividend Yield vs Market

company1.0%marketbottom25%1.4%markettop25%3.7%industryaverage2.8%forecastin3Years2.7%

Current dividend yield vs market & industry

Notable Dividend: CIBE.Y's dividend (1.03%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.44%).

High Dividend: CIBE.Y's dividend (1.03%) is low compared to the top 25% of dividend payers in the US market (3.67%).


Stability and Growth of Payments

Stable Dividend: CIBE.Y's dividend payments have been volatile in the past 10 years.

Growing Dividend: CIBE.Y's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (11.2%), CIBE.Y's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CIBE.Y's dividends in 3 years are forecast to be well covered by earnings (26.4% payout ratio).


Next Steps

Management

What is the CEO of Commercial International Bank -EgyptE's salary, the management and board of directors tenure and is there insider trading?

4.8yrs

Average management tenure


CEO

Hussein Abaza (57yo)

2.8yrs

Tenure

0

Mr. Hussein Abaza has been the Chief Executive Officer and a Director of Commercial International Bank (Egypt) S.A.E. since March 14, 2017. Mr. Abaza served as Chief Executive Officer of Institutional Bank ...


Management Age and Tenure

4.8yrs

Average Tenure

55yo

Average Age

Experienced Management: CIBE.Y's management team is considered experienced (4.8 years average tenure).


Board Age and Tenure

2.0yrs

Average Tenure

57.5yo

Average Age

Experienced Board: CIBE.Y's board of directors are not considered experienced ( 2 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Amin Ezz Al-Arab (63yo)

    Chairman & MD

    • Tenure: 17.9yrs
  • Hussein Abaza (57yo)

    CEO & Director

    • Tenure: 2.8yrs
  • Mohamed Sultan (47yo)

    Chief Operating Officer

    • Tenure: 4.8yrs
  • Ahmed Issa (49yo)

    Chief Executive Officer of Retail Banking

    • Tenure: 2.9yrs
  • Amr El Ganainy

    Chief Executive Officer of Institutional Banking

    • Tenure: 9.9yrs
  • Pakinam Essam (55yo)

    Chief Risk Officer

    • Tenure: 8.9yrs
  • Sherif Khalil

    Chief Communications Officer

    • Tenure: 0yrs
  • Yasmine Hemeda

    Head of IR

    • Tenure: 0yrs
  • Nelly Zeneiny

    IR Officer

    • Tenure: 0yrs

Board Members

  • Paresh Sukthankar (56yo)

    Independent Non-Executive Director

    • Tenure: 0.2yrs
  • Bijan Khosrowshahi (58yo)

    Non-Executive Director

    • Tenure: 5.2yrs
  • Amin Ezz Al-Arab (63yo)

    Chairman & MD

    • Tenure: 17.9yrs
  • Mark William Richards (53yo)

    Independent Non-Executive Director

    • Tenure: 5.9yrs
  • Magda Habib

    Independent Non-Executive Director

    • Tenure: 2yrs
  • Jawaid Mirza (61yo)

    Lead Director

    • Tenure: 0.9yrs
  • Rajeev Kakar

    Independent Non-Executive Director

    • Tenure: 0.2yrs
  • Hussein Abaza (57yo)

    CEO & Director

    • Tenure: 2.8yrs
  • Amani Abou-Zeid

    Independent Non-Executive Director

    • Tenure: 2yrs

Company Information

Commercial International Bank -Egypt S.A.E's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Commercial International Bank -Egypt S.A.E
  • Ticker: CIBE.Y
  • Exchange: OTCPK
  • Founded: 1975
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: ج.م114.486b
  • Listing Market Cap: ج.م7.086b
  • Shares outstanding: 1.47b
  • Website: https://www.cibeg.com

Number of Employees


Location

  • Commercial International Bank -Egypt S.A.E
  • Nile Tower
  • 21/23 Charles De Gaulle Street
  • Giza
  • Egypt

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
COMICASE (Cairo and Alexandria Stock Exchange)YesOrdinary SharesEGEGPAug 1995
CMGG.FOTCPK (Pink Sheets LLC)GDR EACH REPR 1 ORD EGP10 REG'S'USUSDDec 1996
CBKDLSE (London Stock Exchange)GDR EACH REPR 1 ORD EGP10 REG'S'GBUSDDec 1996
CBKDLBATS-CHIXE (BATS 'Chi-X Europe')GDR EACH REPR 1 ORD EGP10 REG'S'GBUSDDec 1996
CIBE.YOTCPK (Pink Sheets LLC)SPONSORED ADRUSUSDApr 2004

Biography

Commercial International Bank -Egypt S.A.E provides retail, corporate, and investment banking services in Egypt. The company operates through four segments: Corporate Banking, Investment Banking, Retail Ba ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/10 23:57
End of Day Share Price2019/12/10 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.