Dear shareholders,

Despite yet a second year of world turbulence due to COVID-19, the disruptive supply chain challenges, and the inflationary pressures accelerating in the last months of 2021, CIB’s Board of Directors (BOD) is proud of the Bank’s achievements as presented in this report.

Throughout the year, the Board of Directors intensified its efforts to maintain the highest governance standards and further promote a prudent risk culture.

Sustainability was, and remains, a priority on the BOD’s agenda. The new realities brought about by climate change, COVID-19, and income inequalities mean a new approach is required to collectively tackle the challenges at hand. Many countries, Egypt included, have begun to feel the effects of climate change in earnest, and as global investor focus on ESG intensifies, Egypt is becoming more intune with the importance of responsible investing. The FRA has issued new guidelines for reporting ESG metrics, as we lay the groundwork for more standardized reporting on these metrics.

CIB has long understood the importance of fostering a sustainable development transition in Egypt and has remained ahead of the curve when it comes to sustainable finance. We are a proud founding signatory of the UNEP-FI Principles for Responsible Banking, which define the framework through which banks can set their sustainability strategies in alignment with Sustainable Development Goals (SDGs) and the 2015 Paris Climate Agreement. This year, CIB celebrated two years of the PRB, with a number of noteworthy achievements on the responsible banking front. We released the business banking (SMEs) portfolio impact assessment in March and established a new Sustainable Finance governance framework. CIB also joined the Net-Zero Banking Alliance (NZBA) during the year.

Among our major achievements of the year, CIB issued Egypt’s first ever green bond, valued at USD 100 million. The issuance is a reflection of CIB’s position as a long-time supporter and committed believer in sustainable finance and the role corporations must play in seeking sustainable and comprehensive solutions to mitigate climate change. The bond comes as Egypt prepares to host COP27, which will focus on securing and derisking financing to help emerging markets meet climate commitments.

CIB’s Board of Directors, and the thousands of dedicated CIB men and women, will continue to work tirelessly to create shared value and maximize the positive societal impact of our business.

On behalf of the Board of Directors, I hope 2022 will witness more achievements and will be a year of positive sustainable transformation and development as well.

Sherif Samy

Non-Executive Chairman