Bank News
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Egypt important to the global economy: BRICS' Dev. Bank
Egypt, with its geographical location, acts as a gateway between Asia and Africa and is a crucial corridor for global trade.
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NDB’s first int’l seminar in Egypt: Facts and expectations
The seminar represents an opportunity to familiarize with the bank's operations and explore ways to assist the government and private sector.
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Egypt to host BRICS bank 1st int'l forum
Egypt's New Administrative Capital will host the New Development Bank's (NDB) first international forum outside the BRICS countries on 11-12 June.
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IMF, Egypt reaches staff level agreement worth US$820 million
Subject to approval by the IMF’s Executive Board, Egypt will have access to about US$820 million, an IMF statement said.
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Egypt’s int’l reserves hit highest point in 4 years
Egypt’s net international reserves (NIRs) hit its highest point in more than four years (50 months) to reach $46.1 billion in May.
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Banks across Egypt offering CDs up to 30% per month
Several banks operating in Egypt have recently launched Certificate of Deposits with lucrative monthly and annual returns.
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CIB commits $300m to renewable energy, waste management projects
The total financing volume provided by CIB in the field of renewable energy and waste management amounts to an impressive $300m.
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CBE implements blended finance mechanisms
Hassan Abdalla eleased a statement on the occasion of AfDB’s 60th anniversary and the 2024 Annual Meetings.
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National Bank of Egypt enables instant transfer receipt from abroad
The move supports Egypt’s digital transformation plan making the society less dependent on cash to enhance the government’s financial inclusion.
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CBE to decide on key interest rates Thursday for last time in FY2023/24
This is amid expectations that it will maintain the current interest rates as inflation rates have started to take a downward path the last 2 months.
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EBRD extends $119.5 mln loan to National Bank of Egypt for MSME financing
The loan is part of a potentially larger financing programme that could be implemented in multiple stages.
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Four Egyptian banks receive positive outlook on improved foreign currency liquidity
These revisions reflect reduced pressures on these banks' capital ratios in the upcoming FY2024/2025.
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Al Ahli Bank Of Kuwait – Egypt Records EGP 3.2 Billion Net Profit In The First Quarter Of 2024
Net Interest Income increased by 71% to reach EGP 1.4 billion by the end of March 2024 compared to EGP 841 million over the same period in 2023.
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Egypt in talks to secure $1.2B from IMF's Resilience and Sustainability Facility
This came during a meeting between the Egyptian Minister of the Environment, Yasmine Fouad, and the IMF's resilience and sustainability mission.
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CBE pulls record EGP 1 trillion to curb inflation
This liquidity withdrawal is part of the CBE's open market operations to effectively regulate the money supply within the Egyptian banking system.
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Egyptian pound against US dollar: Strongest point since March
The Egyptian pound’s rate against the US dollar declined on Tuesday to 46.92 for selling and 46.79 for buying, its strongest point since 23 March.
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NBE credit card users can now use up to LE 60k in foreign currency without notifying bank
Visa Platinum, Mastercard Platinum and Mastercard holders can now utilize up to LE 40,000, compared to the previous LE 12,500 limit.
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Egypt int’l reserves hit record high in four years in April
Egypt’s net international reserves (NIRs) surged at the end of April to its highest level in four years to post $41 billion, up from $40.4.
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Egypt’s foreign currency reserves to soar $16.2bln in FY24/25
The report expected the country’s reserves to rise further by $2.60 billion in FY25/26.
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CBE receives offers worth $1.117bn for USD-denominated T-bill auction
This auction, announced by the CBE on Monday, has a total value of $980m and is set to mature on 29 April 2025.