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23 May 04:24 PM

Banking & Insurance

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28 minutes ago Goldman Sachs reportedly becomes 1st Wall Street bank with Saudi HQ licence
Riyadh – Mubasher: Goldman Sachs Group Incorporation became the first Wall Street bank to establish a Middle Eastern headquarters (HQ) in Saudi Arabia, according to Bloomberg. Goldman obtained a licence from the Saudi Ministry of Investment (MISA) …
Banking and Finance
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08:22 AM CBE offers EGP 50bn T-bills end-week
Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bills (T-bills) at a total value of EGP 50 billion through two equal auctions on Thursday, 23 May 2024. The first tranche will mature in 182 days on 26 November this year, while the …
Banking and Finance
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22 May 12:11 PM NBE secures $119m loan from EBRD
Cairo – Mubasher: The National Bank of Egypt (NBE) has secured $119.5 million (EUR 109 million) from the European Bank for Reconstruction and Development (EBRD) to support Egyptian micro, small and medium-sized enterprises (MSMEs). The loan aims …
Banking and Finance
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20 May 12:13 PM EBank’s consolidated profit leaps to EGP 1.1bn in Q1-24; capital hike approved
Cairo – Mubasher: The consolidated net profits after tax of the Export Development Bank of Egypt (EBank) surged to EGP 1.09 billion in the first quarter (Q1) of 2024 from EGP 563.87 million in the equivalent quarter a year earlier. Consolidated …
Taxes
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20 May 10:15 AM Beltone’s Cash for Microfinance pens cooperation protocol with Microfinanza Italia
Cairo – Mubasher: Cash for Microfinance, a subsidiary of Beltone Holding, has signed a cooperation protocol with Microfinanza Italia to launch a EUR 2.20 million project for the economic support and empowerment of entrepreneurs. The agreement aims …
Companies Investments
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20 May 07:39 AM CBE issues two-type T-bonds worth EGP 9bn on Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bonds (T-bonds) worth EGP 4 billion through one issue on Monday, 20 May 2024. The tranche will mature in three years on 7 May 2027, according to official data. The CBE also …
Macroeconomics
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19 May 10:54 AM Egypt negotiates $1.2bn climate financing from IMF
Cairo – Mubasher: The Egyptian Ministry of Environment is in talks with the International Monetary Fund (IMF) for a $1.20 billion loan under the IMF's support package for Egypt. Minister Yasmine Fouad discussed the financing package with the IMF’s …
Macroeconomics
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19 May 09:13 AM Fitch Ratings upgrades outlooks on 4 major Egyptian banks to positive; ratings affirmed
Cairo – Mubasher: Fitch Ratings has revised the outlook on the long-term issuer default ratings (IDRs) of the National Bank of Egypt (NBE), Banque Misr, Banque du Caire (BDC), and Commercial International Bank (CIB) from stable to positive. The …
Banking and Finance
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19 May 08:04 AM CBE auctions EGP 55bn T-bills on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a combined value of EGP 55 billion through two tranches on Sunday, 19 May 2024. Holding a tenor of 91 days until 20 August this year, the first issue was valued …
Treasury Bills
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16 May 08:27 AM CBE issues T-bills worth EGP 45bn on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a total value of EGP 45 billion through two issues on Thursday, 16 May 2024. The first tranche was valued at EGP 25 billion and will mature in 182 days on 19 …
Banking and Finance
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15 May 11:57 AM ALEXBANK’s net profit leaps 78% YoY in Q1-24
Cairo – Mubasher: ALEXBANK reported a 78.18% year-on-year (YoY) surge in net profit to EGP 2.10 billion in the first quarter (Q1) of 2024. The bank’s operating income soared by 61.74% YoY to EGP 4.5 billion in Q1-24, according to a press release. …
Banking and Finance
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14 May 03:10 PM Al Baraka Group launches portal to boost Egyptian, Pakistani cooperation
Mubasher: Al Baraka Banking Group (ABG), listed on Bahrain Bourse and the Egyptian Exchange (EGX), has launched an inter-franchise collaboration portal to enhance business opportunities for customers in Egypt and Pakistan. The partnership …
Banking and Finance
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14 May 01:59 PM Al Baraka Bank-Egypt’s consolidated profits jump to EGP 553m in Q1-24
Cairo – Mubasher: Al Baraka Bank-Egypt recorded a consolidated net profit after tax of EGP 553.27 million in the first quarter (Q1) of 2024, up from EGP 445.68 million in the similar period a year earlier. Customers’ deposits grew to EGP 94.03 …
Banking and Finance
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14 May 08:12 AM Emirates NBD-Egypt’s profits hit EGP 1.1bn in Q1-24
Cairo – Mubasher: Emirates NBD-Egypt, a subsidiary of UAE-based Emirates NBD, generated EGP 1.10 billion in net profit during the first quarter (Q1) of 2024. The registered net profits were higher by EGP 128.70 million (13.30%) than EGP 964.70 …
Financial Results
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13 May 02:08 PM Suez Canal Bank’s profit soars to EGP 611m in Q1-24
Cairo – Mubasher: Suez Canal Bank’s net profit surged to EGP 611.24 million in the first quarter (Q1) of 2024 from EGP 250.86 million in the same quarter a year earlier. Net interest income jumped to EGP 1.09 billion in Q1-24 from EGP 707.24 …
Banking and Finance
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13 May 11:36 AM ADIB Egypt’s consolidated profits hike to EGP 2.1bn in Q1-24
Cairo – Mubasher: The net profits attributable to the owners of Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) surged to EGP 2.11 billion in the first quarter (Q1) of 2024, compared to EGP 1 billion. Net income from funds witnessed a year-on-year …
Banking and Finance
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13 May 10:11 AM Banque du Caire secures $100m SME financing from IFC
Cairo – Mubasher: Banque du Caire has signed an agreement with the International Finance Corporation (IFC) for a $100 million loan. This agreement includes $50 million earmarked to bolster the development initiatives of small, medium, and …
Companies Investments
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13 May 09:38 AM CIB records jump in Q1-24 consolidated profits to EGP 11.9bn
Cairo – Mubasher: Commercial International Bank-Egypt (CIB) logged consolidated net profits worth EGP 11.92 billion in the first quarter (Q1) of 2024, marking an annual leap from EGP 6.06 billion. Net interest income hiked year-on-year (YoY) to …
Banking and Finance
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13 May 08:14 AM CBE offers EGP 9.5bn debt instruments on Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bonds (T-bonds) at a total value of EGP 3.50 billion through two issues on Monday, 13 May 2024. The first auction stood at EGP 3 billion and will mature in three years on 7 May …
Banking and Finance
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12 May 07:57 AM CBE unveils T-bills worth EGP 60bn on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at an aggregated value of EGP 60 billion through two tranches on Sunday, 12 May 2024. The first auction, which stood at EGP 30 billion, holds a tenor of 91 days …
Macroeconomics
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9 May 11:12 AM Faisal Islamic Bank's consolidated profit leaps 181% YoY in Q1-24
Cairo – Mubasher: The consolidated net profit of Faisal Islamic Bank of Egypt jumped 180.60% year-on-year (YoY) to EGP 6.16 billion in the first quarter (Q1) of 2024 from EGP 2.19 billion. Revenues soared 78.80% YoY to EGP 11.66 billion in Q1-24 …
Banking and Finance
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9 May 08:08 AM CBE issues EGP 50bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a combined value of EGP 50 billion through two equal issues on Thursday, 9 May 2024. The first offering will mature in 182 days on 12 November this year, …
Treasury Bills
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8 May 01:11 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 …
Global Economy
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8 May 10:21 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 …
Companies Investments
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8 May 08:58 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