Banking & Insurance

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 …

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 …

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 …

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 …

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 …

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, …

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. …

Mubasher: Potential macroeconomic changes in Turkiye are set to benefit subsidiaries of GCC-based banks in the country. A disinflation in Turkiye is set to cut GCC banks’ net losses and the decelerated devaluation of the lira is expected to reduce …

Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a total value of EGP 55 billion through two tranches on Sunday, 7 April 2024. The first tranche stood at EGP 30 billion and will mature in 91 days on 9 July this …

Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a total value of EGP 50 billion through two tranches on Thursday, 4 April 2024. The first tranche stood at EGP 30 billion and will mature in 182 days on 8 …

Cairo – Mubasher: The net international reserves (NIR) at the Central Bank of Egypt (CBE) surged by $5 billion to $40.36 billion at the end of March 2024. Reserves amounted to $35.31 billion in February, according to the CBE’s data. Egypt’s NIR …

Cairo – Mubasher: Banque Misr has renewed a cooperation protocol with the Social Housing and Mortgage Finance Fund (SHMFF) with a funding target of up to EGP 25 billion. The renewal of the protocol is a culmination of the fruitful cooperation …

Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) and Microsoft teamed up to develop new AI-based banking capabilities and bolster financial services, according to a press release. The two entities will partner to launch an AI Innovation Hub that …

Cairo – Mubasher: Egypt’s foreign asset deficit declined around 24.23% month-on-month (MoM) to EGP 678.98 billion ($14.38 billion) in February 2024 from EGP 896.12 billion ($18.98 billion) in January. Total foreign assets in the Egyptian banking …

Cairo – Mubasher: B Investments Holding posted a consolidated net profit of EGP 693.76 million in 2023, down from EGP 1.33 billion a year earlier. The basic and diluted earnings per share (EPS) reached EGP 3.17 each last year, down from EGP 5.25 …

Cairo - Mubasher: The Central Bank of Egypt (CBE) offered treasury bonds (T-bonds) at an aggregated value of EGP 3.50 billion through two auctions on Monday, 1 April 2024. The first issue was valued at EGP 3 billion and will mature in three years …

Dubai – Mubasher: Emirates NBD Capital, the investment banking arm of Emirates NBD, has arranged a $500 million syndicated revolving credit facility (RCF) for Lenovo Group Limited. The facility marks Lenovo's first entry into the Middle East …

Cairo – Mubasher: Al Baraka Bank-Egypt’s ordinary general meeting (OGM) has approved not to distribute cash dividends for 2023. The decision followed an amended proposal from the bank’s board on 21 March 2024 not to distribute dividends, according …

Cairo - Mubasher: Al Ahli Sabbour and the National Bank of Egypt (NBE) have launched Mint Real Estate Assets Management Company in the Egyptian market. MINT is set to forge strategic partnerships that enhance and optimise the value and returns of …

Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a combined value of EGP 70 billion through two tranches on Sunday, 31 March 2024. The first issue was valued at EGP 40 billion, holding a tenor of 91 days …

Cairo – Mubasher: The ordinary general meeting (OGM) of the Export Development Bank of Egypt (EBank) approved the distribution of EGP 2.45 billion in cash dividends for 2023, according to a bourse filing. EBank’s consolidated net profits after tax …

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, 28 March 2024. The first offering includes EGP 35 billion worth of T-bills with an 182-day maturity …

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 …