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Egypt’s EFG Finance secures license for its new NBFI venture

The new venture is poised to complement EFG Finance’s core offering by catering to the financing needs of SMEs in Egypt

Emirates NBD-Egypt’s net profit jumps 174% to EGP 3.24 billion

Net interest income rose by 69%, registering EGP 7.3 billion in 2023, compared to EGP 4.3 billion a year earlier

ALEXBANK, Mastercard to launch new payment products in Egypt

The partnership seeks to advance the bank’s payment solutions strategy and enhance the financial services landscape

NBK-Egypt reports EGP 4.02 billion in annual net profit

Customer deposits continued to grow, rising by 25.42% to reach EGP 105.93 billion in 2023

Abu Dhabi wealth fund ADQ to invest $35 billion in Egypt

The Abu Dhabi fund will acquire the development rights for Ras El-Hekma for $24 billion to develop the region into one of the largest new city developments.

ICD, Banque Misr to provide $30 million SME finance

Since its inception, ICD has provided $315 million in financing to Egypt, supporting private sector companies, financing lines to banks and direct investments

UAE’s Mashreq Global Network, ITIDA partner to expand operations in Egypt

Mashreq Global committed to hiring a minimum of 300 new Egyptian employees over the three-year duration of the agreement

Al Baraka Bank teams up with Mastercard to advance banking in Egypt

The collaboration is expected to cater to the needs of individuals in the realm of digital payments and streamline corporate expense management

Egypt’s GAFI signs MoU with HSBC to boost foreign investments

HSBC will introduce and connect more international investors to the growing business opportunities in Egypt

Allianz Egypt teams up with Suez Canal Bank to expand Bancassurance services

Allianz Egypt aims to expand its distribution network as well as attract new business opportunities via innovative channels to boost the insurance sector in Egypt

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