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Banking & Finance

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

MEA Finance - November 5, 2023 0

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 - October 10, 2023 0

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 - September 12, 2023 0

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 - September 6, 2023 0

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 - August 30, 2023 0

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 - August 27, 2023 0

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 - August 24, 2023 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.

Banking & Finance

EFG Holding posts EGP 3.1 billion in Q2 2023 revenue

MEA Finance - August 13, 2023 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

Banking & Finance

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

MEA Finance - August 9, 2023 0

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

Banking & Finance

Crédit Agricole Egypt’s H1 2023 profit jumps 146% to $81.2 million

MEA Finance - August 2, 2023 0

The bank said its net banking income surged by more than 108% year-on-year to reach EGP 4.5 billion

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#Egypt

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Kiwe receives final CBE approval, the new wave of fintech has arrived

ADCB reports record Q1 2026 profit as growth momentum extends to 19 consecutive quarters