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Banking & Finance

Egypt’s Tatweer Misr secures EGP 3.5 billion loan facility

MEA Finance - 0
The developer plans to use the facility to accelerate the pace of construction works in both IL Monte Galala and Bloomfields projects
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Banking & Finance

Egypt’s credit score downgraded by Fitch Ratings to ‘B-‘

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The ratings agency said it expects Egypt to face a significant rise in external debt maturities in fiscal years ending June 2024 and June 2025
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Banking & Finance

Egyptian banks suspend debit card use in foreign currency

MEA Finance - 0
Commercial International Bank told accountholders that debit cards could only be used for Egyptian pound transactions within the country.
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Banking & Finance

Intesa Sanpaolo mulls taking full ownership of Egypt’s ALEXBANK

MEA Finance - 0
ALEXBANK is one of Egypt’s main private sector banks with 175 branches and 1.6 million customers.
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Banking & Finance

ADEX, National Bank of Egypt signs $100 million credit agreement

MEA Finance - 0
The financing agreement seeks to bolster economic activities and further enhance the already fertile trade landscape between the UAE and Egypt
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Banking & Finance

Egypt seeks to raise $5 billion from state IPO program by mid-2024

MEA Finance - 0
The government collected $5 billion from offering stakes in 13 companies between March 2022 and July 2023
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Banking & Finance

Network International invests EGP 1 billion in Egypt

MEA Finance - 0
The payments firm plans to use part of the investment to acquire, deploy and maintain around 100,000 POS machines.
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Banking & Finance

NBK-Egypt posts EGP 1.57 billion in half-year net profit

MEA Finance - 0
The bank’s net interest income soared by 88.2% to reach EGP 3.2 billion compared to EGP 1.7 billion a year ago.
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Banking & Finance

EFG Holding posts EGP 3.1 billion in Q2 2023 revenue

MEA Finance - 0
The bank’s operating profit in the three months to June 30 reached EGP 988 million, up 46% y-o-y despite an increase in group operating expenses
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Banking & Finance

Egypt central bank signs MoU with London Institute of Banking & Finance

MEA Finance - 0
The agreement sets the stage for a fruitful partnership that will bring significant benefits to the North African country
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