Bank News
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Egypt's current account deficit widens in Jan-March
The figures showed that a net $14.75 billion in portfolio investments left the country in January-March.
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US dollar price nears 19 EGP at Egypt's major banks
The US dollar exchange rate registered 19 EGP at the Central Bank of Egypt while it neared 19 EGP at the beginning of Monday's transactions.
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National Bank of Egypt, Banque Misr achieve profits of over $5bln
The statements also indicated that NBE achieved net profits after taxes of EGP 29.7bn, as the bank paid EGP 36.3bn in taxes to the state treasury.
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CBE explains reasons behind decline in inflation in June
Annual headline urban inflation decelerated for the first time after increasing for six months recording 13.2% in June.
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Egypt's central bank issues LE 35.4B in T-bills, bonds
The T-bills were offered in two installments, with the first valued at LE 15 billion with a 182-day term, and the second worth LE 16 billion.
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Month-on-month inflation in Egypt records negative rate for 1st time in 2022
For the first time since December 2021, a negative inflation occurred recording -0.1 percent.
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IMF held productive discussions on Egypt’s new loan
A staff-level mission to Egypt through a team led by IMF mission chief for Egypt Celine Allard concluded, to discuss a new loan programme with Egypt.
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EGP 40 million of loose coins and new banknotes issued in July
Egypt’s Finance Minister Mohamed Maait said EGP 40 million of loose coins and new banknotes were issued in July, at a 10 million pounds rise for Eid.
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World Bank earmarks US$500M for Egypt’s agriculture sector
The loans will see the establishment of the Emergency Food Security and Resilience Support Project.
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Banque Misr obtains license to operate in Somalia
Governor of the CBS Abdel Rahman Mohamed Abdullah said that Banque Misr will contribute significantly to strengthening the country’s financial system.
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Remittances from Egyptian expats hike 7.7% in 4 months
In April, the remittances of Egyptians expatriates recorded $3.1 billion, compared to about $2.5 billion compared to the same month of 2021.
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Central Bank of Egypt auctions over $1bln debt instruments
The first tranche was valued at EGP 14 billion, carrying a 91-day maturity period until 4 October this year, according to official data.
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EIB funds Cairo Metro line 3 by €600M
The project is also funded by the French Agency for Development (AFD) at a value of €300 million, and a grant support of €43 million from the EU.
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NBE to open a subsidiary in South Sudan
The move is part of NBE’s strategy to establish itself internationally and strengthen its operations outside of Egypt.
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HSBC Egypt offers financing options for green purchases
HSBC Green Personal Finance will help with buying electric vehicles or solar panels for homes or other such things.
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FAB Egypt completes merger of Bank Audi, to operate as FABMISR
First Abu Dhabi Bank (FAB) Egypt announced on Sunday the completion of their merger with Bank Audi Egypt.
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HSBC Egypt unveils $53.4m program for tech entrepreneurs
Priority is to companies with sustainable development integrated in their plans, in recognition of the UN Climate Change Conference (COP-27).
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HSBC pledges EGP 1bn in loans for tech entrepreneurs
New pledge is HSBC’s third high growth SME lending proposition in 6 months.
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Egypt’s international reserves down in May
Egypt’s net international reserves (NIRs) dropped in May to $35.5 billion, down from $37 billion posted in April.
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CBE to issue $540m worth treasury bills
New issuance’s proceeds will be pay off previous bid that was put forward on 8 June 2021.