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Banking & Finance

ALEXBANK, Network International to accelerate digital transformation

MEA Finance -
The deal complements ALEXBANK’s focus on providing customers with unique banking experiences befitting the digital age.
Banking & Finance

Standard Chartered to start operations in Egypt by year-end

MEA Finance -
The bank appointed Mohammed Gad as CEO of Standard Chartered Egypt effective immediately.
Banking & Finance

Egypt’s Tatweer Misr secures EGP 3.5 billion loan facility

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

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

MEA Finance -
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
Banking & Finance

Egyptian banks suspend debit card use in foreign currency

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

Intesa Sanpaolo mulls taking full ownership of Egypt’s ALEXBANK

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

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

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

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

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

Network International invests EGP 1 billion in Egypt

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

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

MEA Finance -
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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