Bank News
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Egyptian Banks Cut Interest on Dollar Certificates
The national Bank of Egypt (NBE) and Banque Misr, the two largest government banks, cut interest on 3-year dollar savings certificates by about 0.50%.
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Blom Bank in Talks with Bahrain's ABC to Sell Egyptian Unit
Blom Bank owns 99.42% of the issued share capital of Blom Bank Egypt, the statement said.
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Egypt's current account falls into deficit in 2nd quarter
The current account flipped to a $3.71 billion deficit in the April-June quarter from a $557 million surplus a year earlier.
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Sunday off for all Egypt banks on anniversary of 6 October victory
Sunday will be a holiday for all banks in Egypt on the anniversary of the 6th of October war triumph, the Central Bank of Egypt (CBE) said.
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In Q4 of 2023–2024, Egypt’s State debt decreases by 2.1%
Data from the ministry indicates that short-term domestic debt decreased by 2.9 percent to LE 7.33 trillion.
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Egypt’s central bank inks MoU with Tunisian counterpart
The MoU aims to exchange experiences and knowledge through workshops, training courses, and conferences.
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CBE to host 48th annual meeting of Council of Arab Central Banks
This meeting will be preceded by a workshop titled Increasing the Strength and Stability of the Financial System in the Age of Digitization.
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Why is Egypt delaying international bonds?
Financial experts and policymakers have urged caution, advocating for a delay until there is more clarity on global interest rate trends.
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Dollar Drops against Egyptian Pound to 48.48
The dollar depreciated against the Egyptian currency by about 20 piastres to record EGP 48.48 to buy and EGP 48.62 to sell.
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Egypt to sell United Bank stake in IPO by Q1 2025
United Bank’s total assets increased from 72 billion Egyptian pounds in 2021, to 106 billion pounds in June.
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Egypt to sell United Bank stake by end of March, c.bank says
Egypt's central bank aims to sell shares in state-owned United Bank in an initial public offering (IPO) on the stock exchange by the end of March.
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Egypt to reportedly return to international bond market sometime this FY
Egypt’s last Eurobond issuance was back in 2021 when it joined “a rush of emerging-market governments taking advantage of low borrowing costs.
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CIB appoints Hisham Ezz Al-Arab in new term as CEO
Ezz Al-Arab has served as the CIB's Non-Executive Chair since March 2023.
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NIB, Egypt post collaborate to enhance financial stability
This partnership aims to strengthen the NIB's pivotal role as a key economic and investment driver crucial for advancing development goals.
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Egypt, Citigroup mull cooperation to promote macroeconomic stability
Egypt endeavors to achieve economic and structural reforms and lure foreign direct investments (FDIs).
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NBE, Banque Misr raise limits of credit card withdrawals outside Egypt to $5,000
At the same time, they raised the monthly purchase limit to $6,000 for the highest category of credit cards.
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NBE Raises Limit for Traveling Clients to USD 5,000
The bank also announced an increase in the foreign currency spending limits on its credit cards for transactions outside of Egypt.
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Anticipation builds for CBE decision on interest rates Thursday
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) is scheduled to convene on Thursday to decide on interest rates.
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IMF forecasts rise in Egypt gross international reserves
The International Monetary Fund (IMF) has projected a substantial increase in Egypt's gross international reserves.
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CBE reports first profit in seven years
The CBE also reported a rise in total assets, reaching EGP 6.057trn in June 2024, compared to EGP 4.480trn in June 2023, an increase of EGP 1.6trn.