Bank News
-
Egypt's external debt declines to $154.980B by end Q1 2023
The International Monetary Fund (IMF) had previously predicted a decline in public debt as a percentage of GDP, to record 88.3 percent.
-
ADIB Egypt sees 51% higher consolidated profits in 2022
Abu Dhabi Islamic Bank-Egypt generated consolidated net profits after tax worth EGP 2.18 billion in 2022, an annual leap of 51% from EGP 1.45bn.
-
Suez Canal Bank aims to provide best electronic services in Egypt
The bank’s strategy aims to turn it into the strongest banking institution providing electronic services in the Egyptian market.
-
Egypt is taking critical steps towards managing fiscal risks
Georgieva said that the region’s inflation is expected to gradually decline as commodity prices settle and tighter monetary and fiscal policies work.
-
The Egyptian Banking Institute signs an agreement with Egyptian Banks Company
The MOU comes in line with the strategic cooperation between EBI and EBC, with the purpose of providing training programs for member banks.
-
USD/EGP rises 8 piastres to 30.55
The official price of the dollar in the Central Bank of Egypt (CBE) recorded EGP 30.55 to sell and EGP 30.46 to buy.
-
African development bank appoints Abdourahmane Diaw as country manager for Egypt
Immediately prior to his appointment, Diaw was Officer in Charge of Egypt Country Office and served as Regional Manager.
-
ADIB-Egypt honored with 20 awards in 2022
From leading global and regional institutions recognizing achievements in Islamic banking and digital innovation.
-
World Bank launches report on achieving demographic dividend in Egypt
The World Bank Group launched Tuesday a report entitled “Achieving the Demographic Dividend in the Arab Republic of Egypt: Choice, Not Destiny”.
-
Egypt's foreign reserves increases to $34.224B in January
Egypt's cash reserves had increased to $34.002 billion at the end of December, compared to $33.53 billion at the end of November.
-
3 factors led CBE to fix interest rates: analyst
The Central Bank took advantage of the tools of the monetary policy, and the financial policy to implement and enhance market stability.
-
Egypt’s balance of payments hits $523.5M surplus by end of September
The CBE attributed the surplus to the growing revenues of tourism, Suez Canal as well as petroleum and non-petroleum exports.
-
HoR ratify document of Egypt's accession to Development Bank of "BRICS" Bloc
The BRICS group comprises the major emerging economies, namely Brazil, Russia, India, China, and South Africa. It is headquartered in Shanghai, China.
-
Egypt’s Central Bank to issue dollar-denominated T-bills next week
The step reflects the Central Bank of Egypt’s desire to respond to investors’ expectations that interest rates will take an upward curve.
-
Remco appoints financial advisor FinBi to assess its investments
Remco is an Egypt-based company that operates in tourism and entertainment projects development and construction.
-
Discussed: benefits of Egypt's joining BRICS's new development bank
The Parliament approved an agreement that allows Egypt to join BRICS group's New Development Bank.
-
High interest rates carry multiple risks to future of investment in Egypt: EJB
The best way to improve the investment climate in the future is by announcing monetary policies that ensure the stability of policies.
-
Egypt’s central bank to review key interest rates on Thursday, the first under IMF loan deal
Egypt’s annual urban consumer inflation continued to rise in December, recording 21.3 percent, the highest since the end of 2017.
-
Egypt's Parliament endorses pact to join Brics Bank
Egyptian MPs welcomed the agreement, seeing in it a way to help reduce demand for US dollars.
-
Egypt's net foreign assets climb by $2 billion in December
NFAs improved to a negative 494.3 billion Egyptian pounds from a negative 541.5 billion in November.