Banking & Insurance

Cairo – Mubasher: Beltone Holding shifted to a consolidated net profit of EGP 548.20 million in the first quarter (Q1) of 2024, versus a net loss of EGP 52.03 million in Q1-23. Consolidated total revenues soared to EGP 1.36 billion in Q1-24 from …

Riyadh – Mubasher: National Bank of Kuwait - Egypt (NBK Egypt) has posted a 96.32% year-on-year (YoY) surge in net profit to EGP 1.28 billion (KWD 11.71 million) in the first quarter (Q1) of 2024 from EGP 652 million (KWD 6.88 million). Net …

Cairo – Mubasher: Egyptian logistics solution company OneOrder has raised $16 million in equity and debt in a Series A funding round. The funding is aimed at enabling the company to expand into the GCC region in autumn 2024, build up financing …

Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a total value of EGP 60 billion through two tranches on Sunday, 26 May 2024. With a tenor of 91 days until 27 August this year, the first issue was valued at …

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) …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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. …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …