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08 May 07:15 PM

Banking & Insurance

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02:11 PM Mastercard restructures leadership roles in MENA
Riyadh - Mubasher: Payments giant Mastercard announced restructuring its regional operations, appointing new division leaders as it aims to step up growth across the Middle East and North Africa (MENA). This initiative forms part of the company's …
Banking and Finance
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11:21 AM Beltone, UAE’s Comera partner to boost digitalisation in Egypt
Cairo – Mubasher: Beltone Holding has signed a strategic partnership agreement with Abu Dhabi-based Comera Financial Holding to bolster digital transformation and customer experience in Egypt. Under the agreement, the two companies will join …
Banking and Finance
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09:58 AM Egypt int’l reserves hit 4-year high in April 2024
Cairo – Mubasher: The net international reserves (NIR) at the Central Bank of Egypt (CBE) rose by around $690 million to more than $41.05 billion at the end of April 2024 from $40.36 billion in March. The recent increase brought reserves to its …
Banking and Finance
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7 May 03:15 PM FABMISR opens 2 new branches in Giza, Cairo
Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), an Egypt-based unit of the ADX-listed FAB, has inaugurated two new branches in Egypt. The new branches, the bank’s 66th and 67th in the country, are located on El-Haram Street in Giza …
Banking and Finance
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2 May 10:13 AM Egypt’s foreign asset deficit hits 25-month low in March 2024
Cairo – Mubasher: Egypt’s foreign asset deficit plummeted around 70.61% month-on-month (MoM) to EGP 199.65 billion ($4.17 billion) in March 2024, its lowest level since February 2022, or nearly 25 months, after a $28.83 billion surge in foreign …
Banking and Finance
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2 May 08:51 AM CBE offers T-bills, zero-coupon T-bonds on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a combined value of EGP 55 billion through two issues on Thursday, 2 May 2024. The first offering stood at EGP 30 billion and will mature in 91 days on 6 …
Macroeconomics
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1 May 11:22 AM Crédit Agricole Egypt logs EGP 2.3bn consolidated profits in Q1-24
Cairo – Mubasher: Crédit Agricole Egypt recorded consolidated net profit after tax of EGP 2.28 billion in the first quarter (Q1) of 2024, a jump from EGP 1.22 billion in the same quarter a year earlier. Net interest income leapt to EGP 2.68 …
Banking and Finance
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1 May 08:55 AM CBE issues debt instruments worth EGP 49bn
Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bills (T-bills) at an aggregated value of EGP 45 billion through two offerings on Wednesday, 1 May 2024. With a tenor of 182 days until 5 November this year, the first tranche stood …
Bonds
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30 April 11:54 AM Beltone’s investment arm to launch $100m credit platform for Egyptian exporters
Cairo – Mubasher: Beltone Investment Holding (BIH), a subsidiary of Beltone Holding, is set to launch a $100 million private credit platform. The new platform will serve Egyptian exporters, according to a press release. The platform will …
Companies Investments
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30 April 11:04 AM EFG Hermes advises on HSB's EGP 600m short-term note issuance
Cairo – Mubasher: EFG Hermes, a subsidiary of EFG Holding, has announced that its investment banking division closed the issuance of an EGP 600 million senior unsecured short-term note for the Hermes Securities Brokerage Company (HSB). This …
Companies Investments
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29 April 11:09 AM CBE unveils EGP 65.5bn debt instruments on Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a combined value of EGP 60 billion through two equal auctions on Monday, 29 April 2024. The first auction will mature in 91 days on 30 July this year, while the …
Treasury Bills
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28 April 10:03 AM CBE issues T-bills, T-bonds worth EGP 58bn on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a total value of EGP 55 billion through two tranches on Sunday, 28 April 2024. The first auction stood at EGP 30 billion and will mature in 182 days on 29 …
Central Banks
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24 April 12:25 PM EG Bank’s consolidated profit surges 91% YoY in Q1-24
Cairo – Mubasher: Egyptian Gulf Bank (EG Bank) reported a consolidated net profit after tax from continued operations of EGP 596.54 million during the first quarter (Q1) of 2024, up 91% year-on-year (YoY) from EGP 312.77 million. The bank’s …
Banking and Finance
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22 April 09:49 AM CBE issues two-type T-bonds on Monday
Cairo - Mubasher: The Central Bank of Egypt (CBE) offered treasury bonds (T-bonds) worth EGP 4 billion on Monday, 22 April, through one issue. The semi-annual tranche will mature in three years on 16 April 2027, according to official data. …
Bonds
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21 April 04:10 PM Palm Hills Developments in talks with 3 banks for EGP 1.7bn loan
Cairo – Mubasher: Palm Hills Developments Company has confirmed a media report that it is in talks with a syndicate of three banks for a loan totalling EGP 1.72 billion. The company said that it is in the final stages of these talks, according to …
Banking and Finance
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21 April 10:38 AM CBE unveils T-bills worth EGP 55bn on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a combined value of EGP 55 billion through two offerings on Sunday, 21 April 2024. The first issue was valued at EGP 30 billion, holding a tenor of 91 days …
Macroeconomics
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18 April 11:00 AM National Bank of Egypt’s subsidiary considers launching gold fund
Cairo – Mubasher: A subsidiary of the National Bank of Egypt (NBE) has submitted a request to launch a new gold investment fund, said Mohammed Fareed, Chairman of the Financial Regulatory Authority (FRA). The clientele of the only two gold …
Banking and Finance
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17 April 03:07 PM Egypt to auction additional T-bills worth EGP 50bn
Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) amounting to EGP 50 billion through two auctions on Thursday, 18 April 2024. The first offering will total EGP 30 billion and is scheduled to mature in 182 days …
Banking and Finance
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16 April 11:22 AM Faisal Islamic Bank of Egypt’s standalone profit soars 180% YoY in Q1-24
Cairo – Mubasher: Faisal Islamic Bank of Egypt reported a 179.80% year-on-year (YoY) surge in the standalone net profit to EGP 6 billion during the first quarter (Q1) of 2024 from EGP 2.14 billion in the similar quarter a year earlier. Total …
Banking and Finance
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16 April 10:11 AM CBE unveils EGP 5.5bn bonds on Tuesday
Cairo - Mubasher: The Central Bank of Egypt (CBE) issued treasury bonds (T-bonds) at a value of EGP 500 million on Tuesday, 16 April 2024, through one tranche. The offering holds a tenor of five years until 16 April 2029, according to official …
Macroeconomics
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15 April 02:41 PM Qalaa Holdings settles over EGP 13bn in debt with 5 banks
Cairo – Mubasher: Qalaa Holdings has signed an agreement to settle debt with five banks to settle around EGP 13.45 billion in debt. The first agreement was signed with Banque Misr, Banque du Caire, Arab African International Bank, and Al Ahli Bank …
Companies Investments
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15 April 09:41 AM CBE unveils EGP 59bn debt instruments on Monday
Cairo - Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a combined value of EGP 55 billion on Monday, 15 April 2024, through two auctions. The first tranche stood at EGP 30 billion and will mature in 182 days on 15 …
Central Banks
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9 April 04:04 PM Saudi Arabia leads Forbes list of “Most Valuable Banks”
Mubasher: Forbes Middle East has revealed its ‘30 Most Valuable Banks’ ranking, with Saudi Arabia leading the list via 10 entries at an aggregated market value of $279.50 billion. As of 23 February 2024, the 30 banks had a combined value of …
Global Economy
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9 April 01:15 PM QNB Al Ahli’s consolidated profits exceed EGP 7bn in Q1-24
Cairo – Mubasher: Qatar National Bank Al Ahli (QNB Al Ahli) logged consolidated net profits after tax worth EGP 7.04 billion in the first quarter (Q1) of 2024. The recorded net profits were higher year-on-year (YoY) than EGP 4.71 billion, …
Banking and Finance
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8 April 12:59 PM CBE offers two-type T-bonds on Monday
Cairo - Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bonds (T-bonds) at a value of EGP 4 billion through one issue on Monday, 8 April 2024. The offering will mature in three years on 9 April 2027, according to official data. …
Central Banks