Download - Corporate values' Evaluation
Corporate Values’ evaluationCommercial International Bank (CIB)PREPARED BY: WALID SAAFAN
SUPERVISORS: PROF.DR . RAAFAT YOUSSEF SHEHATA
OCT., 2015
Objective
oEvaluation of CIB’s values and how it will help the organization to grow and maximize performance
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Content
oCIB background
oCIB product portfolio
oFactsheet
oCore organization values
oEvaluation for those values
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HistoryEstablished in 1975 as a joint venture between the National Bank of Egypt (51%) and the Chase Manhattan Bank (49%) under the name "Chase National Bank of Egypt”.
in 1987, National Bank of Egypt (NBE) increased its shareholding to 99.9%, and the Bank changed its name to Commercial International Bank (Egypt) S.A.E.
In 2006, a Consortium led by Ripplewood Holdings acquired the NBE stake.
In July 2009, Actis invested US$ 244 million to acquire shares in CIB (50% of the stake).
Actis sold its remaining 6.5% to Subsidiaries wholly owned by Fairfax Financial Holdings Ltd (“Fairfax”) in May 2014.
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Ownership
93.24%
6.76%
Free float Fairfax Financial Holdings Ltd
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Corporate Banking
Business Banking
Mid-Cap Banking
Debt Capital Markets
Consumer Banking
Wealth Management
Global Transactional Services (GTS)
Treasury and Capital Markets Services
Direct Investment
Investment Banking Services
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#1 Profitability achieving EGP 3.7 billion in net income
#1 Revenue among all Egyptian private sector banks with EGP 8.0 billion in total revenues
#1 Loan and deposit market share among all Egyptian private sector banks
#1 Net worth among all Egyptian private sector banks
#1 Market capitalization in the Egyptian banking sector
Source: Annual report 2014
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5,697 employees serve some 697,936 active customers
125,000 Internet banking subscribers
The installation of water restrictors has reduced water consumption by 30%
The installation of LED lighting will reduce energy consumption by 35%
EGP 143.8 billion in total assets
Over 500 of Egypt’s largest corporations bank with CIB
Planting rooftop gardens and green walls is decreasing CO2 emissions
Double-sided printing has decreased paper consumption by 45%
Source: Annual report 2014
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Top 30 banks excluding NBE, BMBubble size represent the total assets
VisionTo uphold CIB’s distinct reputation as a leading and trusted financial institution in Egypt, respected for its people, strong core values, performance and commitment to inclusive, responsible and sustainable growth.
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MissionTo create outstanding stakeholder value by providing best in class financial solutions to individuals and enterprises that drive Egypt's economy. Through our innovative products, superior customer service, development of staff, and commitment to sustainability we will realize our ambitions and pave the landscape of banking in Egypt for years to come.
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Integrity• Exemplify the highest standards of personal and
professional ethics in all aspects of our business.
• Be honest and open at all times.
• Stand up for one’s convictions as well as accept responsibility for one’s own mistakes.
• Comply fully with the letter and spirit of the laws, rules and practices that govern CIB’s business in Egypt and abroad.
• Say what we do and do what we say.
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Client Focus• Our clients are at the center of our activities and
their satisfaction is our ultimate objective.
• Our success is dependent upon our ability to provide the best products and services to our clients; we are committed to helping our clients achieve their goals and be the best at what they do.
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Innovation• Since our inception as the first joint venture bank
in Egypt, CIB has been a pioneer in the financial services industry. We believe innovation is a core competitive advantage and promote it accordingly.
• We strive to lead the Egyptian financial services industry to a higher level of performance in serving the millions of Egyptians who remain under-served or un-banked.
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Hard Work• Discipline and perseverance govern our actions so
as to achieve outstanding results for our clients and outstanding returns for our stakeholders.
• Seeking service excellence guides our commitment to our clients.
• We work with our clients to reach their current goals while anticipating and planning for their future objectives.
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Teamwork• We collaborate, listen and share information
openly within CIB and with our partners, clients and shareholders.Each one of us consistently represents CIB’s total corporate image.
• There is only one CIB in the eyes of our clients.
• We value and respect one another’s cultural backgrounds and unique perspectives.
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Respect to the Individual• We respect the individual whether an employee, a
client, a shareholder or a member of the communities in which we live and operate.
• We treat one another with dignity and respect and take time to answer questions and respond to concerns.
• We firmly believe each individual must feel free to make suggestions and offer constructive criticism.
• CIB is a meritocracy, where all employees have equal opportunity for development and advancement based only on their merits.
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Mannerism• CIB focuses on business etiquette with our clients
and has strict policies governing mannerism.
• Peculiarity of manner in behavior, speech, actions, dress code, etc.
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Value typesTERMINAL
Client Focus
Hard Work
Mannerism
Respect to the Individual
INSTRUMENTAL
Integrity
Teamwork
Innovation
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CommentsThere is a good balance between terminal and instrumental values
Terminal values reflect corporate mission and vision.
Instrumental values stands for attaining these ends.
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Top 10 values
Strong Work Ethic Self – Motivated
Dependability and Responsibility Motivated to Grow & Learn
Possessing a Positive Attitude Strong Self – Confidence
Adaptability Professionalism
Honesty and Integrity Loyalty
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Effectiveness of values1. Viability
2. Balance
3. Alignment
4. Authenticity
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Effectiveness of valuesViability- Value content
Interest in employee, customers, and ownership improve revenue. Kotter & Heskett (1992)
Lack of honesties' that is among the first of admired leasers, this has a negative impact employee care about vision. Kouzed & Posner (1995)
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Effectiveness of valuesViability- Value functions
Growth values (G)
• Client Focus• Innovation• Hard Work• Teamwork
Stabilizing values (S) • Respect to the Individual
Defensive values (D)• Integrity• Mannerism
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Growth Stabilizing Defensive
Growth values dominating and lead to a more mature and healthy place. Maslow (1968)
Effectiveness of valuesBalance- Balanced value representation
Mastery (personal competence) IntegrityInnovationHard WorkMannerism
Sense of contribution (social competence) Respect to the IndividualClient Focus
Self-respect (personal character)
Acceptance (social character) Teamwork
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The lack of stated values in the area of personal character can lead to questionable business practice and customer complaints. Hultman, 2002
Effectiveness of values AuthenticityThe values are expressed clearly to all concerned stakeholders.
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References Organization development journal, ‘Evaluating organizational values’ Ken Hultman, 2005.
CIB financial statement 2014
CBE and banks’ web sites
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