REG - Commercial Int Bank - CIB's Press Release dated October 27th, 2020

Commercial International Bank Egypt CIBAnnouncement

27/10/2020 14:30

RNS Number : 3772D
  
Commercial Intnl Bank (Egypt) SAE
  
27 October 2020
  
 

 
RELEASE
 
Cairo October 27th, 2020
 
Reference to CIB's release issued on October 23rd, 2020 which stated that the bank was waiting to receive the CBE's findings, Commercial International Bank -CIB - Egypt would like to state that a meeting was held yesterday with the Central Bank officials to discuss the CBE's main findings and the violations that were included in their latest review and accordingly identify necessary enhancements to be made as required on the Compliance and Internal Audit fronts.
 
Furthermore, several meetings were conducted today with the Bank's executive management in coordination with the Bank's External Auditors to review in detail all issues identified in CBE's review and assess their impact and/or identify necessary corrective actions needed. Dedicated task forces have been formed to address these issues.
 
 
END OF RELEASE
 

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