Bank News
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Banque Misr secures $260 mln loan from IFC to uplift MSMEs
Banque Misr will receive a $260 million loan from the World Bank's (WB) financial arm, the International Finance Corporation (IFC).
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AfDB highlights Egypt’s easing inflation, lowers avg. inflation rate forecast for next FY
Egypt’s GDP is expected to grow to 4.8 percent in FY2023/2024, slightly higher than the previously forecasted 4.4 percent for the current fiscal year.
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Head of Egypt’s central bank calls on AfDB to expand concessional loans to member states
Governor of the Central Bank of Egypt (CBE) Hassan Abdallah urged on Friday the African Development Bank (AfDB) to increase its lending to members.
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AfDB expects Egypt's GDP growth at 4.8 percent for FY 2023/24
Egypt's GDP growth is expected to increase to 4.8 percent in FY 2023/24, up from 4.4 percent in the current FY.
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Africa Investment Forum showcases $1.475bn in green energy deals at AfDB 2023 annual meetings
The Africa Investment Forum presented four projects to investors during the 2023 annual meeting of the African Development Bank Group.
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AfDB expects Egypt's GDP growth at 4.8 percent for FY 2023/24
Egypt's GDP growth is expected to increase to 4.8 percent in FY 2023/24, up from 4.4 percent in the current FY, according to the African Economic.
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The best Islamic bank in Egypt 2023: Banque Misr
The bank’s Islamic branches provide insurance products in partnership with the Egyptian Tukaful Life Insurance Company.
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aiBANK announce final agreement to purchase the portfolio of letters of guarantee existing at NBG Egypt
The portfolio has a distinguished group of prime clients and adds value to the bank.
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Egypt seeks to expand cooperation with AIIB in funding economic growth
Mohamed Maait, also governor of Egypt at the AIIB, made the remarks during his meeting in the Egyptian capital Cairo with the visiting AIIB's VP.
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Egypt expected to devalue the EGP... what if it doesn’t in the short term?
Citigroup anticipated that the Central Bank of Egypt (CBE) will hold any move on its currency until the end of current fiscal year, which ends on June
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CBE Governor: AfDB Plays Key Role in Promoting Economic Development within Continent
This comes within the framework of the Egyptian state’s keenness to strengthen and deepen cooperation with African countries in all fields.
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Egyptians Can Now Open Bank Accounts without a Minimum Deposit
This comes in light of a larger set of initiatives that were launched on 27 April for Arab Day for Financial Inclusion.
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CBE gets ISO accreditation in business continuity management
The certification was awarded in recognition of CBE efforts to ensure the continuity of all its critical banking activities.
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CBE concludes preparations for annual meetings of AfDB in Sharm El-Sheikh
The event will witness the participation of AfDB governors representing 81 regional and non-regional member countries.
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Remittances from Egyptian expatriates see significant decline
The value of Egyptian remittances during the first half of the fiscal year declined to US$12 billion.
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Moody's places a review rating of 5 Egyptian banks
The banks' long-term Counterparty Risk Ratings (CRRs) and Baseline Credit Assessments (BCAs) were also placed on review for downgrade.
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EIB grants $15 mln loan to ALEXBANK for Egypt's SMEs green projects
The European Investment Bank (EIB) and ALEXBANK, a subsidiary of Intesa Sanpaolo Group in Egypt, announced the release of a new tranche of$15 million.
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Egypt central bank hires Barclays as adviser on sale of its 99% stake in United Bank
The hiring was as the international financial adviser for the sale of its 99 percent stake in the state-owned United Bank
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Fitch Downgrades 4 Egyptian Banks to 'B' on Sovereign Downgrade; Outlook Negative
We have also downgraded the Government Support Ratings (GSRs) of all four banks to 'b-' from 'b'.
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EBRD, EU, ILX allocate €300 million to enhance private sector financing in Egypt and beyond
The announcement was made during the EBRD's annual meetings taking place in Uzbekistan.