Banking

Banque Misr, Egypt’s second largest bank, plans to open branches in the Saudi cities of Jeddah, Riyadh, and Tabuk, chairman Mohamed El-Etreby said.
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Suez Canal Bank reduced its stake in Mohandes Insurance to 0.00007% from 3.06%.
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Egypt’s Social Housing and Mortgage Finance Fund and Crédit Agricole Egypt have signed a cooperation agreement to support low- and middle-income citizens.
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Banks operating in Egypt are predicted to face further pressure on operating profitability during 2021 on lower interest rates and higher loan impairment charges, Fitch Ratings said in a report.
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Saudi Arabia’s Cabinet issued a decision on Tuesday that it approved a licence for Egypt’s state lender Banque Misr to open a branch in the kingdom.
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CIB has joined the Task Force on Climate-Related Financial Disclosures, becoming the first bank in Egypt to sign up to the initiative, it said in a statement.
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The National Bank of Egypt (NBE) has maintained the first spot for syndicated loans in Egypt and Africa during the first quarter of 2021, a Bloomberg evaluation shows.
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The African Development Bank’s (AfDB) board approved on Tuesday a €145 million ($171.7 million) loan to finance reliability and performance upgrades to Egypt rail system.
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The Central Bank of Egypt (CBE) and the Ministry of Supply and Internal Trade have signed an agreement to provide the finance needed to develop Eish baladi (Egyptian bread) bakeries.
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National Bank of Egypt (NBE), the country’s largest state bank, announced that it has launched a new financial product to finance food carts i.e street Food, the first of its kind in the Egyptian…
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