Banking

Egypt’s real gross domestic product (GDP) will grow 4.5 percent in the financial year 2021/2022 – down from projections in October – and then the economy will boom 5.5 percent in the 2022/2023, the…
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African Export-Import Bank (Afreximbank) will loan Egypt’s United Bank $600 million for on-lending to support small and medium-sized enterprises (SMEs) and trade finance in the North African country,…
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Export Development Bank of Egypt (EBE) plans to achieve profits worth EGP 844 million during the 18-month period from 1 July 2020 to 31 December 2021, according to a bourse disclosure on Monday.
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The Central Bank of Egypt (CBE) can afford to cut rates by as much as 50 bps at its meeting later this month, Goldman Sachs MENA economist Farouk Soussa told Bloomberg (watch, runtime 7:12).
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The financial position of banks operating in the Egyptian market increased EGP 207bn to EGP 7.554trn in March 2021, compared to EGP 7.347trn in February 2021.
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The Housing and Development Bank (HDB) has announced that its pre-tax profits amounted to EGP 862m, whilst it reported net profit after taxes amounting to EGP 620m.
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Egypt’s net international reserves increased about $125m to record $40.468bn in May, compared to $40.343bn in April 2021, The Central Bank of Egypt (CBE) said.
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Egypt’s net foreign reserves increased by aproximately $125 million in May, the Central Bank of Egypt (CBE) announced
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TAQA Arabia, a subsidiary of Qalaa Holdings, signed financing contracts worth EGP 916 million with the National Bank of Egypt (NBE) to expand its investment plans.
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Orascom Financial Holding (OFH) cut its stake in Beltone Financial Holding by 4.45% to 70.1% from 74.55%.
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