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An EBE branch
28 January 07:07 PM CI Ratings affirms EBE’s ratings; Outlook stable
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’, …
The programme will stimulate SMEs in Egypt
28 January 05:53 PM World Bank Group launches initiative for SMEs in MENA
Cairo – Mubasher: The World Bank Group (WBG) has launched a new phase of a finance programme for small and medium-size enterprises (SMEs), the Middle East News Agency reported on Tuesday. The new programme is expected to create sustainable jobs …
CIAF Leasing will be the issuer of sukuk worth $50 million
28 January 02:28 PM CIAF Leasing, Talaat Moustafa to issue sukuk in 3 months
By: Fahd Omran Cairo – Mubasher: The Egyptian aircraft leasing company CIAF Leasing will issue the first corporate sukuk in February, head of the central department for corporate finance at the Financial Regulatory Authority (FRA), Sayed Abdel …
The issuance will be used to finance the country’s budget deficit
27 January 12:38 PM CBE offers EGP 6.75bn T-bonds on Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bonds (T-bonds) worth EGP 6.75 billion on Monday on behalf of the Ministry of Finance. The first tranche amounts to EGP 3.75 billion and will be offered through five-year notes, …
The bank also plans to increase its capital to EGP 5 billion
27 January 12:25 PM Al Baraka Bank – Egypt eyes EGP 3.3bn funding to national projects by 2023
Cairo – Mubasher: Al Baraka Bank – Egypt is looking to contribute EGP 3.3 billion to syndicated loans to be directed to national projects, bringing the total value of its contributions to EGP 5 billion by 2023. The bank also plans to increase its …
The North African nation’s commodity imports went down by $693.8 million
27 January 11:34 AM Egypt’s foreign trade drops $358m in Q1-19/20
By: Abdullah Bedeir Cairo – Mubasher: Trade exchange between Egypt and its foreign partners declined by $358.2 million year-on-year to $23 billion during the first quarter of fiscal year 2019/2020, compared to $23.4 billion. The drop in the …
Total government deposits fell by EGP 11.2 billion
27 January 11:17 AM Egyptian banks’ deposits hit EGP 4.18trln end November 2019
Cairo – Mubasher: Total deposits at Egyptian banks hiked by EGP 17 billion to EGP 4.183 trillion at the end of November 2019, compared to EGP 4.166 trillion a month earlier. Total government deposits fell by EGP 11.2 billion month-on-month to EGP …
The North African nation’s current account deficit fell by $629.8 million
27 January 10:56 AM Egypt’s BoP records $227.3m surplus in Q1-19/20
By: Fahd Omran Cairo – Mubasher: Egypt’s balance of payments (BoP) posted an overall surplus of $227.3 million during the first quarter of fiscal year 2019/2020, according to the monthly statistical bulletin of the Central Bank of Egypt (CBE).   …
The two loans will be disbursed over 24 semi-annual payments
26 January 04:08 PM Egypt’s parliament approves EUR 1.016bn loan to buy 1,300 railroad cars
Cairo – Mubasher: The Egyptian parliament approved the presidential decree no. 14 of 2020 regarding a credit facility for the purchase of 1,300 railroad cars, the Middle East News Agency (MENA) reported on Sunday. Valued at EUR 1.016 billion, the …
The bank’s authorised capital will be increased by $200 million
26 January 03:13 PM Egypt’s parliament approves IBRD’s capital raise
Cairo – Mubasher: The Egyptian parliament approved the presidential decree no 662 of 2019 regarding a capital increase of the International Bank for Reconstruction and Development (IBRD), Ahram Gate reported on Sunday. The bank’s authorised …
State-run banks are the top holders of the government debt instruments
26 January 10:59 AM CBE offers EGP 14.5bn T-bills on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 14.5 billion on Sunday on behalf of the Ministry of Finance to finance the country’s budget deficit.  The first tranche will be offered through 91-day …
Egypt is seeking to promote cooperation with EBRD
25 January 05:43 PM EBRD invests EUR 5.3bn in Egypt
Cairo – Mubasher: The value of the European Bank for Reconstruction and Development’s (EBRD) investments in Egypt has reached EUR 5.3 billion in 99 projects, according to a statement released on Saturday by Egyptian international cooperation …
FAB’s offer is still under consideration
23 January 10:59 PM Bank Audi reveals details of FAB’s acquisition offer
Cairo – Mubasher: Bank Audi on Thursday announced that it is in talks with some entities, including First Abu Dhabi Bank (FAB), for the sale of its unit in Egypt, according to a message sent to the Lebanese bank’s employees. FAB’s offer is still …
The bank’s capital increased by EGP 85.99 million
23 January 06:59 PM Egyptian FRA approves CIB’s capital hike
Cairo – Mubasher: Egypt’s Financial Regulatory Authority (FRA) has approved Commercial International Bank’s (CIB) capital increase, according to a bourse statement released on Thursday. The bank’s capital increased by EGP 85.99 million, divided …
Banks retain good access to stable, deposit-based funding
23 January 01:37 PM Moody’s sees stable outlook for Egyptian banks on strong growth, liquidity
Cairo – Mubasher: The Egyptian banking system has a stable outlook over the next twelve to 18 months with the help of high liquidity rates and robust economic growth that will help lenders provide more loans, Moody's Investors Service said in a …
Acquiring Bank Audi’s unit in Egypt requires regulatory approvals
23 January 01:21 PM FAB confirms talks to acquire Bank Audi’s branch in Egypt
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has confirmed that it held exclusive discussions with Lebanese Bank Audi to acquire its fully owned subsidiary in Egypt (Bank Audi-Egypt). However, FAB has not announced any valuations regarding the …
The Egyptian minister of international cooperation Rania Al-Mashat
23 January 01:14 PM IsDB’s portfolio in Egypt stands at $12.8bn
Cairo – Mubasher: The Islamic Development Bank’s (IsDB) portfolio in Egypt reached $12.8 billion in various sectors, including electricity, petroleum, agriculture, irrigation, health, education, and small- and medium-sized enterprises (SMEs).  The …
Discussions are at an early stage
22 January 11:33 PM FAB in talks to acquire Bank Audi’s unit in Egypt
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB), listed on the Abu Dhabi Bank (ADX), is in talks to acquire Bank Audi’s unit in Egypt, Reuters reported on Wednesday. Discussions are at an early stage, a source familiar with the matter told the …
The bank’s SMEs portfolio reached EGP 3bn
22 January 10:30 PM Banque Misr considers investing EGP 4bn in SMEs over 6M
By: Islam Fadl Cairo – Mubasher: Banque Misr, Egypt’s second largest state-run lender, is planning to inject EGP 4 billion in finance during the second six months of the fiscal year 2019/2020 to support small and medium-size enterprises (SMEs), …
The United Bank's chairman, Ashraf El Kady
22 January 10:08 PM United Bank guarantees EGP 305m securitisation deal for MNHD
Cairo – Mubasher: Chairman of the United Bank Ashraf El Kady on Wednesday announced that the bank issued a letter of guarantee for an EGP 305 million securitisation transaction for Madinet Nasr Housing and Development (MNHD). The transaction comes …
The bank funded around 450,000 projects in Egypt
21 January 10:37 PM World Bank provides $200m finance to Egyptian SMEs
Cairo – Mubasher: Egypt’s Micro, Small, and Medium Enterprise (MSMEs) Development Agency has signed $200 million facility agreement with the World Bank, according to a statement released on Tuesday. The finance provided by the World Bank will be …
The facility will be used for a loan repayment
21 January 06:41 PM Palm Hills signs EGP 505m facility agreement with AUB Egypt
Cairo – Mubasher: Palm Hills Development Company has signed an EGP 505 million short-term facility agreement with Ahli United Bank (AUB) Egypt, according to a bourse statement released on Tuesday. The company announced that it will use the …
The bank’s assets rose to EGP 102.74 billion in December
21 January 05:40 PM Faisal Islamic Bank’s business records EGP 108.3bn in Dec. 2019
Cairo – Mubasher: Faisal Islamic Bank of Egypt’s business volume grew by 13.5% year-on-year to EGP 108.3 billion at the end of December 2019. The bank’s assets rose to EGP 102.74 billion in December from EGP 93.77 billion in the same month a year …
Loans provided to the private sector reached EGP 796.1bn
21 January 03:58 PM Egyptian banks grant EGP 1.85trln loans in FY18/19
Cairo – Mubasher: Total loans provided by Egyptian banks grew by 13.7% year-on-year to EGP 1.85 trillion during the fiscal year 2018/2019, according to a report released on Tuesday by the Central Agency for Public Mobilization and Statistics …
Family deposits increased by 14.5% to EGP 2.71 trillion
21 January 02:47 PM Egypt’s bank deposits hit EGP 3.99trln in FY18/19 – CAPMAS
Cairo – Mubasher: Egypt's bank deposits grew by 12.4% year-on-year to EGP 3.99 trillion during fiscal year 2018/2019, according to a report by the Central Agency for Public Mobilization and Statistics (CAPMAS) on Tuesday.  Family deposits …