Press Release -19 August 2026

Summary by AI BETAClose X

Commercial International Bank (Egypt) SAE has received preliminary approval from the Central Bank of Egypt to establish yomo digital bank, a new, independently licensed, digitally native bank. CIB Egypt is investing USD 300 million in yomo Holding's digital banking platform, which will initially launch in Egypt. This development signifies CIB's commitment to combining its established banking expertise with a modern digital offering, aiming to enhance speed, accessibility, and customer relevance. The approval allows yomo to proceed with operational and technological readiness before its services launch, pending final regulatory consent.

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Commercial Intnl Bank (Egypt) SAE
20 August 2026
 

 


PRESS RELEASE

CIB Egypt received today preliminary approval to establish yomo digital bank

Cairo, August 19th, 2026: CIB Egypt would like to announce that the Bank received today preliminary approval from the Central Bank of Egypt to establish yomo digital bank, in line with Egypt's digital banks' framework introduced in 2023. CIB is investing USD 300 million in yomo Holding's digital banking platform, to be first deployed in Egypt as an independently licensed and digitally native bank.

Backed by CIB's strength, governance, and fifty years of banking excellence, yomo aims to combine the trust of Egypt's leading private-sector bank with the speed, accessibility, and customer relevance of a digitally born bank. The approval enables yomo to enter the next phase of operational, technological and customer readiness ahead of the launch of its services, subject to regulatory approval.

END OF RELEASE

 

Yasmine Hemeda

Head of Investor Relations

 

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