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20-Oct-2016

Fitch affirms NBE, CIB and CAE with a Stable outlook

Fitch Ratings has affirmed the Long-Term Issuer Default Ratings (IDRs) of National Bank of Egypt (NBE) and Commercial International Bank (CIB) at 'B', with Stable outlooks. Fitch has also affirmed Credit Agricole Egypt (CAE)’s Support Rating at '4' and its National Long- and Short-Term Ratings at 'AA+' and 'F1+', respectively. The Long-Term IDR of National Bank of Egypt (UK) Ltd (NBEUK), a wholly-owned subsidiary of NBE, has been affirmed at 'B' with Stable Outlook and its Support Rating has been affirmed at '4'.(Amwal Al Ghad)   CIB: EGP51.80 as of 19 October 2016, Rating: Neutral, FV: EGP46.38 per share, MCap: USD6,731mn, COMI EY / COMI.CA Credit Agricole: EGP21.54 as of 19 October 2016, Rating: Buy, FV: EGP26.66 per share, MCap: USD754mn, CIEB EY / CIEB.CA

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