Bank News
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10 things you need to know about financial inclusion in Egypt
CBE released a report last Saturday highlighting the important figures regarding financial inclusion in Egypt, here are 10 facts from the report.
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Over 42 mln Egyptians have money accounts
Egypt's financial inclusion rates have improved between 2016 and 2022 by 147 percent, according to figures released by the Central Bank of Egypt (CBE)
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WB revises down its forecast for Egypt GDP growth in FY2022/2023
They revised it to four percent in each of these two fiscal years, down from 4.5 percent it projected in December of 2022.
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Proceeds of NBE, Banque Misr's fresh high-yield CDs record EGP 109 bln in 3 days
The NBE and Banque Misr offered two three-year CDs; one with a fixed monthly yield of 19 percent, the other with a decreasing yield of 22 percent.
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More banks in Egypt issue high-yield CDs with various maturities, yields
On Monday, QNB and CIB announced the issuance of new CDs with annual yields of 19.25 percent and 22 percent, respectively.
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FABMISR reports EGP 4.5bln net profit in 2022
During FY2022, the total value of deposits stood at EGP139.38 billion and was driven by a 35% increase compared to the previous year.
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Egypt aspires to increase cooperation with AfDB: Sisi
Up to 4,000 participants are expected to attend the 2023 annual meetings held at the Sharm El-Sheikh International Conference Centre on 22-26 May.
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CIB partners with IFC in managing climate risk
The goal is to assist the bank in assessing its climate risk exposure, and ensuring any climate-related financial risks are disclosed in its portfolio
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NBE, Banque Misr new CDs attract EGP 67 bln in 24 hours
NBE and Banque Misr issued 2 three-year CDs, one of them with a fixed yield of 19% disbursed monthly, while the second is with a decreasing yield 22%.
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Banque Misr: time period for availability of new CDs is open
Etreby added that the time period for the availability of new CDs is open and a date has not yet been set for their termination.
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Egypt, Afreximbank discuss preparations for IATF in November
The exhibition aims to enhance intra-trade between various African countries and highlight investment opportunities available in the continent.
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Egypt’s external debt rises by 5.1% in 4Q of 2022
In this respect, the government has committed to a ceiling on the gross debt of 92.1 percent of GDP by the end of the current fiscal year.
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National Bank of Egypt, Banque Misr release certificates of 22-16%
The first certificate is fixed for three years at a rate of 19 percent annually, and the return is paid monthly. The second certificate of three years
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Islamic Development Bank approves $344.5 mln fund for Egypt's electric express train
During its 350th meeting in Jeddah, the Islamic Development Bank's (IsDB) board of executive directors approved three projects worth a total of $403m.
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NBE denies issuance of CDs at 30% interest rate
The Vice Chairman of the Bank’s Board of Directors Yehia Aboul-Fotouh in a press statement stressed the need to refer to official sources.
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Egypt’s Central Bank raises interest rates to highest level since 2017
In its meeting, the overnight deposit rate, overnight lending rate, and the rate of the main operation was raised by 200 bps to 18.25 percent, 19.25.
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National Bank of Egypt denies issuance of new high return saving certificates
According to official statements, the proceeds of the CDs reached $750 billion in just 70 days and came to maturity in March.
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NBE raises return on 3-year savings certificates
You can access this service from any of the bank’s branches or via internet banking.
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All eyes on Egypt's central bank meeting today amid expected interest rates hike
The CBE Monetary Policy Committee is scheduled to convene on Thursday to review the key interest rates for the second time in 2023.
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Report: Will CBE raise interest rates at its next meeting?
The Research Department of HC Securities and Investment expected the Central Bank of Egypt’s Monetary Policy Committee would raise the interest rate.