Press Release -19 August 2026
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
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
ENDRNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.