Table of Contents
Key Points
- Nevine Sabbour became the first woman to lead Egypt's largest bank, Commercial International Bank (CIB), in September 2024.
- CIB saw a remarkable 89% increase in net profit, reaching EGP42.35 billion ($854.1 million) for the nine months ending September 2024.
- Sabbour’s leadership extends beyond CIB, serving on boards of major organizations and championing women’s empowerment in Egypt’s financial sector.
Not many bankers who began their careers as financial analysts in Africa can match the remarkable achievements of Egyptian banker Nevine Sabbour.
With over 35 years of experience in the banking sector, Sabbour achieved a historic milestone in September 2024 when she was appointed as the non-executive chairperson of Commercial International Bank (CIB). This appointment not only made her the first woman to lead Egypt's largest bank but also solidified her position as a trailblazer in the industry.
Under Sabbour's visionary leadership, CIB has maintained its spot as Egypt's top private-sector bank and the most valuable publicly listed company on the Egyptian Exchange (EGX), with a market capitalization of EGP247.7 billion ($5 billion). Her career, characterized by continuous innovation and strategic foresight, has been pivotal in shaping the bank’s growth and influence.
Strategic shift to financial services
Sabbour’s journey began in 1984 when she earned a bachelor’s degree in Economics from the American University in Cairo. This strong academic foundation paved the way for her to join Xerox Holdings Corporation in Egypt two years later as a financial analyst.
At Xerox, she honed her analytical skills, designing sales compensation plans, conducting territory analyses, and providing cost estimates for new products—experiences that would shape her career trajectory.
Her transition into the financial services sector marked a defining moment. At the Arab African International Bank (AAIB), Sabbour rose to Senior Manager in the investment division, where she played a pivotal role in overseeing the bank’s investments in Alubaf Arab International Bank.
She also spearheaded long-term projects in the tourism and hospitality sectors, demonstrating her ability to drive strategic initiatives.
Sabbour’s rise: From AAIB to CIB
Sabbour’s innovative approach at AAIB was evident in her introduction of advanced financial instruments like Credit Default Swaps and Total Return Swaps, in collaboration with global financial giants such as Merrill Lynch, UBS, and Citigroup. Managing a $60-million portfolio of marketable securities, she showcased her aptitude for fostering financial growth and innovation.
Her outstanding contributions at AAIB culminated in her appointment as Assistant Managing Director in 2012. In this capacity, she restructured the UAE branch network and successfully launched a state-of-the-art microfinance company in 2018.
Overseeing 12 large-scale projects with budgets exceeding $20 million, Sabbour demonstrated exceptional expertise in mergers and acquisitions, banking transformation, and strategic financial planning.
After nearly a decade in this leadership role, Sabbour broadened her impact by joining INI Investments in 2021, where she led strategic investment initiatives. Building on this momentum, she assumed the role of Chairperson and CEO of Panther Associates, further establishing her as a visionary leader.
Her impressive track record culminated in 2024 when CIB’s board of directors appointed her as Non-Executive Chair, acknowledging her exceptional leadership and ability to guide the bank with integrity, efficiency, and excellence.
Sabbour’s impact extends across Egypt
Beyond her role at CIB, Sabbour’s impact on the financial industry has been transformative, marked by remarkable achievements in both corporate leadership and broader institutional influence.
Under her leadership, CIB reported an 89 percent year-on-year increase in net profit for the nine months ending September 2024, reaching EGP42.35 billion ($854.1 million), with total revenues rising 87 percent to EGP71.4 billion ($1.44 billion). This growth was driven by a 74 percent surge in net interest income and a ninefold increase in non-interest income.
Her influence extends far beyond CIB. Sabbour serves on the boards of several prominent financial and industrial organizations, including Meris (Moody’s Egypt) and the Holding Company for Metallurgical Industries.
Additionally, she is a member of the board of trustees for the “We Owe it to Egypt” foundation and “Banking for Women in Egypt,” reflecting her commitment to women’s empowerment and financial inclusion across the country.
