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2 hours ago CBE auctions EGP 55bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a total value of EGP 55 billion through auctions on Thursday, 25 March 2024. The first offering includes EGP 35 billion worth of T-bills with an 182-day maturity …
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27 March 03:59 PM Egypt’s FX receipts drop 24% YoY in FY22/23 – CAPMAS
Cairo – Mubasher: Egypt's total foreign exchange receipts declined by 24% year-on-year (YoY) to $121.90 billion during the fiscal year (FY) 2022/2023 from $160.50 billion in FY 2021/2022. Total foreign exchange payments plunged by 27.10% YoY to …
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26 March 10:46 AM CIB’s shareholders nod for dividends, $1bn debt issuance
Cairo – Mubasher: The ordinary general meeting (OGM) of Commercial International Bank-Egypt (CIB) approved the distribution of EGP 0.55 per share in cash dividends for 2023. Eligible shares amount to more than 3.01 billion, according to a bourse …
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25 March 03:03 PM ADIB Egypt’s shareholders nod to EGP 1bn capital raise
Cairo – Mubasher: The shareholders of Abu Dhabi Islamic Bank–Egypt (ADIB Egypt) greenlighted the board’s proposal to raise the issued and paid-up capital by EGP 1 billion. The increase amount will be distributed over 100 million shares at a …
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25 March 02:06 PM Banque du Caire posts 113% higher profits in 2023
Cairo – Mubasher: Banque du Caire registered net profits after tax valued at EGP 6.66 billion in 2023, an annual leap of 112.77% from EGP 3.13 billion. Net interest income hiked to EGP 17.78 billion last year from EGP 12.79 billion in 2022, …
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25 March 12:28 PM Macro Group secures EGP 65m loan from FABMISR
Cairo – Mubasher: The board members of Macro Group Pharmaceuticals - Macro Capital agreed to renew short-term financing from First Abu Dhabi Bank Misr (FABMISR), an Egypt-based unit of the ADX-listed FAB. The board greenlighted the EGP 65 million …
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25 March 12:07 PM CBE unveils debt instruments on Monday
Cairo - Mubasher: The Central Bank of Egypt (CBE) offered treasury bonds (T-bonds) at a value of EGP 2.50 billion through one tranche. The auction will mature in three years on 19 March 2027, according to official data. The financial authority …
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25 March 11:17 AM Crédit Agricole's board nods for 2023 cash dividends
Cairo – Mubasher: Crédit Agricole Egypt’s board of directors approved the distribution of EGP 1.14 per share in cash dividends for 2023. The approved dividends represent 27.92% of the distributable profits, according to a bourse filing. It is …
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24 March 03:28 PM Madinet Masr negotiating banks for credit facilities
Cairo – Mubasher: Madinet Masr Housing and Development is in talks with a syndicate of banks for credit facilities to fund its commercial projects. Official contracts will be signed upon the finalisation of the negotiations, Madinet Masr stated, …
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24 March 12:32 PM CBE issues T-bills worth EGP 50bn on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a total value of EGP 50 billion through auctions on Sunday, 24 March 2024. The two auctions stood at EGP 25 billion, each, with varied maturity periods, …
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24 March 10:54 AM Orascom Financial Holding swings to profitability in 2023
Cairo – Mubasher: Orascom Financial Holding (OFH) turned to profitability in 2023, recording a consolidated net profit after tax of EGP 20.45 million, compared to a net loss of EGP 133.39 million a year earlier. Operating revenues reached EGP …
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21 March 03:07 PM Elsewedy Electric ups credit facility deal with Afreximbank to $300m
Cairo – Mubasher: Elsewedy Electric Company’s board approved increasing a revolving facility agreement with the African Export-Import Bank (Afreximbank) to $300 million. The agreement was also signed with Elsewedy Electric for Transmission and …
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21 March 12:09 PM CBE unveils T-bills worth EGP 60bn on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bills (T-bills) at a combined value of EGP 60 billion through auctions on Thursday, 21 March 2024. The first tranche stood at EGP 30 billion and will mature in 182 days on 24 …
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19 March 04:35 PM EG Bank’s shareholders nod to capital increase
Cairo – Mubasher: The shareholders of Egyptian Gulf Bank (EG Bank) agreed to disburse EGP 250.25 million bonus shares at a nominal value of EGP 0.02 per share. The ordinary general meeting (OGM) greenlighted the bonus shares, on 18 March 2024, in …
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18 March 06:21 PM World Bank plans to support Egypt with over $6bn for different channels
Cairo – Mubasher: The World Bank Group intends to provide Egypt with more than $6 billion of support over the coming three years, subject to the board’s approval. The financial assistance includes $3 billion to support the Egyptian government’s …
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18 March 11:46 AM CBE issues T-bonds worth EGP 3.25bn on Monday
Cairo - Mubasher: The Central Bank of Egypt (CBE) issued treasury bonds (T-bonds) worth EGP 3.25 billion on Monday, 18 March 2024, through two auctions. The first issue was valued at EGP 3 billion, holding a three-year tenor until 19 March 2027, …
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17 March 03:49 PM Egypt to achieve $26.5bn funding surplus over 4 years – Goldman Sachs
Cairo – Mubasher: Egypt's medium-term financing outlook is set to improve dramatically, with a projected surplus of $26.50 billion over the next four years, compared to a previous deficit of $13 billion. This positive shift is attributed to …
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17 March 11:43 AM CBE issues EGP 50bn T-bills on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a total value of EGP 50 billion through equal two offerings on Sunday, 17 March 2024. The two tranches amounted to EGP 25 billion, with a varied maturity …
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14 March 12:39 PM CBE unveils EGP 60bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a combined value of EGP 60 billion through two auctions on Thursday, 14 March 2024. Each tranche stood at EGP 30 billion, according to the CBE’s official data. …
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13 March 05:03 PM Emirates NBD-Egypt launches new branch in Qena
Cairo – Mubasher: Emirates NBD-Egypt, a subsidiary of DFM-listed Emirates NBD, opened its newest branch in Qena Governorate within its expansion strategy to offer a comprehensive scope of services, according to a press release. The inauguration …
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13 March 01:49 PM EFG Finance obtains FRA’s licence to launch financial services firm for SMEs
Cairo – Mubasher: EFG Finance, the non-bank financial institutions (NBFI) arm of EFG Holding, has received a license from the Financial Regulatory Authority (FRA) to establish a new subsidiary. The new subsidiary will provide financial services to …
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13 March 01:11 PM Beltone Holding’s consolidated profit balloons 3,597% YoY in 2023
Cairo – Mubasher: Beltone Holding’s consolidated net operating profit skyrocketed 3,597% year-on-year (YoY) to EGP 1.02 billion in 2023 from EGP 27.80 million. The consolidated operating revenue surged 411% YoY to EGP 1.87 billion last year from …
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12 March 03:27 PM Moody's affirms ratings of 5 key Egyptian banks; outlook turns positive
Cairo – Mubasher: Moody's Ratings has affirmed all ratings and assessments of five major Egyptian banks, changing the outlook of their long-term deposit ratings from negative to positive. The rating agency affirmed the Caa1 long-term deposit …
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12 March 03:01 PM FABMISR partners with Drive Finance to foster payment solutions in Egypt
Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), an Egypt-based unit of the ADX-listed FAB, has entered into a partnership with Drive Finance, a subsidiary of GB Capital owned by GB Corp. This collaboration will witness the integration of …
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12 March 12:01 PM UAE’s Al Ansari Financial Services witnesses surge in remittance to Egypt post pound devaluation
Dubai – Mubasher: Al Ansari Financial Services has reported a large increase in money transfers from the UAE to Egypt following the Central Bank of Egypt’s (CBE) decision to float the Egyptian Pound and liberate its exchange rate based on market …