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2 December 01:34 PM Banque du Caire sees 7% higher net profits in Q3-21
Cairo – Mubasher: The net profits of Banque du Caire rose by 7% to EGP 2.7 billion by the end of the third quarter (Q3) of 2021, compared to EGP 2.5 billion in the year-ago period, the Middle East News Agency (MENA) reported. The bank's net income …
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30 November 05:49 PM IsDB’s ICIEC signs agreement with Japan's NEXI to boost trade relations
Mubasher: The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has partnered with Japan-based Nippon Export and Investment Insurance (NEXI), the Export Credit Agency (ECA) of Japan, through a memorandum of …
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30 November 02:00 PM HD Bank’s consolidated net profits down 4.5% in 9M
Cairo – Mubasher: The initial financial results of the Housing and Development Bank (HD Bank) showed a 4.5% decrease in net profits after tax at EGP 1.58 billion during the first nine months (9M) of 2021 from EGP 1.65 billion in 9M-20. Earnings …
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29 November 10:44 AM CBE offers EGP 9.5bn T-bonds on Monday
Cairo - Mubasher: The Central Bank of Egypt (CBE) will issue on Monday EGP 9.5 billion treasury bonds (T-bonds), in coordination with the Ministry of Finance (MoF), to finance the budget deficit. With a two-year maturity period, the first tranche …
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28 November 02:17 PM Kuwait’s C.bank, CMA initiate campaign on crypto assets
Mubasher: The Central Bank of Kuwait (CBK) has collaborated with the Capital Markets Authority (CMA) to launch a joint financial literacy campaign on investing or dealing in crypto assets in the state, according to a press release on Sunday. …
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25 November 03:52 PM ADCB completes sale of 20% stake in Egypt's Orient Takaful
Abu Dhabi - Mubasher: Abu Dhabi Commercial Bank (ADCB) has completed the sale of its 20% stake in Egypt-based Orient Takaful to Orient Insurance Company. To have a negligible impact on profitability, the transaction is in line with the bank’s …
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25 November 11:28 AM CBE offers EGP 18bn T-bills on Thursday
Cairo - Mubasher: The Central Bank of Egypt (CBE) will issue on Thursday EGP 18 billion treasury bills (T-bills), in coordination with the Ministry of Finance (MoF), to finance the budget deficit. The first tranche of the T-bills will be offered …
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24 November 06:20 PM Lucky Egypt collaborates with FAB, Visa for new service
Cairo – Mubasher: Offers platform Lucky Egypt has signed a tripartite cooperation protocol with First Abu Dhabi Bank and Visa to launch FAB - Lucky Visa Platinum Credit Card, marking the first-of-kind tripartite partnership in the Egyptian digital …
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24 November 05:23 PM NBK launches Kuwait’s 1st digital bank Weyay
Mubasher: The National Bank of Kuwait (NBK) has launched Weyay to be the first fully digital bank in Kuwait to serve the youth in the state. Weyay aims to enhance NBK’s position in digitising banking services, according to a press release on …
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23 November 01:03 PM El-Mashat says development partners provide Egypt with $720m funding
Cairo – Mubasher: The Asian Infrastructure Investment Bank (AIIB) and the World Bank have earmarked a total of $720 million for Egypt’s development policies, Minister of International Cooperation, Rania El-Mashat, announced. The executive …
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22 November 10:56 AM CBE issues EGP 11.5bn T-bonds on Monday
Cairo - Mubasher: The Central Bank of Egypt (CBE) offers on Monday EGP 11.5 billion treasury bonds (T-bonds), in coordination with the Ministry of Finance (MoF), to finance the budget deficit. The first tranche will be issued through three-year …
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21 November 06:37 PM ADIB Egypt sees sale, purchase of EGP 40.5m equity
Cairo – Mubasher: Emirates International Investments – Egypt has exited its 1.5% equity ownership in Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) on 21 November. The company sold 3 million shares in the bank for an average sale price of EGP 13.5 …
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21 November 10:34 AM CBE offers EGP 18.5bn T-bills on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue on Sunday EGP 18.5 billion treasury bills (T-bills), in coordination with the Ministry of Finance (MoF), to finance the budget deficit. The first tranche of the T-bills will be offered …
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18 November 05:48 PM EFG Hermes becomes Egyptian universal bank following aiBank acquisition
Cairo – Mubasher: The Egyptian Financial Group Hermes Holding (EFG Hermes) has officially transferred into an Egyptian universal bank, after it concluded the acquisition of 51% equity in the Arab Investment Bank (aiBank). In a bourse filing to the …
Badr University in Cairo
15 November 03:58 PM CIRA decides to borrow EGP 375m from Ahli United Bank
Cairo – Mubasher: The board of directors of Cairo for Investment and Real Estate Development (CIRA) approved the terms and conditions of the medium-term loan contract with Ahli United Bank. Under the contract, the company will borrow EGP 375 …
The first tranche will be offered through two-year notes
15 November 10:23 AM CBE offers EGP 9bn T-bonds on Monday
Cairo - Mubasher: The Central Bank of Egypt (CBE) will issue on Monday EGP 9 billion treasury bonds (T-bonds), in coordination with the Ministry of Finance (MoF), to finance the budget deficit. The first tranche valued at EGP 7 billion will be …
The net interest income declined to EGP 18.15 billion
14 November 12:33 PM CIB logs EGP 9.9bn profit in nine months
Cairo – Mubasher: The Commercial International Bank-Egypt (CIB) reported consolidated net profits of EGP 9.87 billion in the first nine months of 2021, up by 34.5% year-on-year (YoY) from EGP 7.34 billion, including minority shareholders' rights.  …
The issuance will be used to finance the country’s budget deficit
14 November 10:36 AM CBE offers EGP 17.5bn T-bills on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 17.5 billion on Sunday on behalf of the Ministry of Finance. The first tranche of the T-bills will be offered through 91-day notes valued at EGP 3.5 …
The net interest income increased to EGP 2.03 billion
11 November 04:39 PM NBK-Egypt logs EGP 1.05bn profit in 9M
Cairo – Mubasher: The National Bank of Kuwait-Egypt (NBK-Egypt) reported net profits of EGP 1.050 billion in the first nine months of 2021, slightly down from EGP 1.097 billion in the corresponding period a year earlier. The net interest income …
Madkour for Projects will replace and upgrade electricity networks in Luxor
11 November 12:30 PM NBK-Egypt inks EGP 850m financing deal with Madkour for Projects
Cairo – Mubasher: The National Bank of Kuwait-Egypt (NBK-Egypt) announced the provision of EGP 850 million in funding for Madkour for Projects Company for replacing and upgrading medium and low voltage electricity networks in some villages of …
The deal will finance the establishment of a fibre-optic cable factory
10 November 03:31 PM Benya Cables inks EGP 481m financing deal with Banque Misr
Cairo – Mubasher: Benya Cables, a subsidiary of Benya Group, signed a facility agreement worth EGP 481 million with Banque Misr on the sidelines of the Cairo ICT exhibition.  The facility will be used to finance the establishment of the largest …
The net interest income increased to EGP 5.09 billion
10 November 12:47 PM HD Bank's standalone profit inches up in 9M initial financials
Cairo – Mubasher: Housing and Development Bank (HD Bank) logged standalone net profits of EGP 1.43 billion in the first nine months of 2021, slightly up from EGP 1.42 billion in the year-ago period, the unaudited financial results showed.  The …
The income from loans and similar revenues grew to EGP 5.68 billion
10 November 11:54 AM EG Bank's 9M profit rises 10%
Cairo – Mubasher: The Egyptian Gulf Bank (EG Bank) reported net profits of EGP 499.52 million in the first nine months of 2021, an increase of 10.13% year-on-year (YoY) from EGP 453.54 million, including minority shareholders' rights.  The bank's …
The bank's interest income retreated to $299.56 million
8 November 05:28 PM SAIB's 9M profit up 7% in initial financials
Cairo – Mubasher: Societe Arabe Internationale de Banque (SAIB) reported net profits of $14.17 million in the first nine months of 2021, an increase of 7% year-on-year (YoY) from EGP $13.18 million, the unaudited financial results showed.  The …
Central Bank of Egypt
8 November 10:52 AM CBE issues rules for instant payment network services
Cairo – Mubasher: The Central Bank of Egypt's (CBE) board of directors approved the regulations governing the instant payment network (IPN) services in Egypt as part of its efforts towards reducing the usage of cash in the economy.  Under the …