Alpha Oryx, which acquired a stake in the capital of the Commercial International Bank (CIB) last week, confirmed that the company’s commercial objectives or its proposals regarding the management of the bank will not negatively affect the bank’s management or harm the interests of clients.
The company added in a statement to the Egyptian Exchange (EGX) on Tuesday that the main areas of strategic focus for the company and its associated parties include driving growth in target markets, enhancing efficiencies, rapid evolutionary adaptation, supporting culture and talent, and expanding their commitment to supporting environmental, social, and governance practices.
Alpha Oryx also emphasised its continuous search for options to support its growth ambitions at the international level, especially in a market with high potential such as the Egyptian market.
Furthermore, it noted that acquiring a share of the capital of CIB represents an important sign for the company and its associated parties that is in line with their long-term strategic ambitions and will also expand the regional presence of the company and its related parties by providing it with a broader scope, enhancing its specialisation and the pillars of its growth and maximising revenues.
The company explained that the bank is a leading financial institution for banking services, serving advanced regional and international emerging markets with a rich history and a respectable reputation. It is also known for its strong management team and global standards of bank governance.
It also indicated that it plans to work with the bank’s management to identify opportunities for cooperation and growth and to capitalise on the joint expertise and experiences of the bank and the company.
