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CI Ratings affirms EBE’s ratings; Outlook stable

CI Ratings affirms EBE’s ratings; Outlook stable
An EBE branch

Cairo – Mubasher: Capital Intelligence Ratings (CI Ratings) has affirmed the long-term foreign currency rating of Export Development Bank of Egypt (EBE) at ‘B+’.

The rating agency also affirmed the bank’s short-term foreign currency rating at ‘B’, according to a statement released on Tuesday. Outlook for both ratings was stable.

It is worth mentioning that EBE showed a 9% year-on-year profit decrease during the first quarter of fiscal year 2019/2020.

Net profits slumped to EGP 275.37 million in the July-September period, compared to EGP 302.8 million in the year-ago period.