Bank News
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Egypt, IMF discuss reform progress in fifth review of $8 bln loan programme
Al-Mashat highlighted the European Union’s (EU) €4 billion macroeconomic and budget support package, now entering its second phase.
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IMF noted to arrive this week for 5th review of $8B loan program
In March 2024, Egypt succeeded in expanding the IMF loan package from $3 billion to $8 billion.
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EBRD Investment in Egypt tops €13.8B
With over €13.8 billion invested in Egypt’s economy since 2012—more than 86 percent of it directed to the private sector.
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CBE receives $1.17bn in bids for dollar-denominated T-bills auction
The proceeds will be used to repay a previous issuance from 30 April 2024, through which the Bank raised $997.6m.
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IMF and World Bank expect Egypt’s economic growth to increase
Mashat reviewed the most important economic developments, including the results of Egypt’s participation in the IMF Spring Meetings.
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What is the highest return on CDs in Egypt?
The CBE announced a reduction in the interest rate on deposits to 25 percent and on loans to 26 percent.
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Egypt to auction $950 million in one-year dollar T-bills
The bills will replace $997.6 million in maturing dollar treasury bills that carried an average weighted yield of 5.149%.
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Why the IMF has a positive outlook ONLY on Egypt
Egypt is now the only major Middle East and North Africa economy seeing an upgrade; the Fund trimmed the region’s 2025 forecast to just 3 percent.
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CBE announces Labour Day a paid holiday for banks in Egypt
The Central Bank of Egypt (CBE) announced that Labour Day, which falls on Thursday, 1 May, will be a paid holiday for banks in Egypt.
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IMF raises Egypt’s growth forecast to 3.8 percent for 2025, 4.3 percent next year
Adjustment improves upon January forecasts of 3.6 percent and 4.1 percent for the economy.
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NBE, Banque Misr adjust returns on saving certificates after CBE interest rate cut
It also announced that it would discontinue its popular platinum savings certificates, which offered an annual return of 17.25 percent.
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Banks double down on social impact as CSR funding nears EGP 4 billion
Fresh data from the Central Bank of Egypt (CBE) show that the sector channelled EGP 3.9 billion into community projects during 2024.
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Afreximbank targets $2 billion in financing to Egypt in 2025
The African Export-Import Bank (Afreximbank) aims to provide $2 billion in direct and indirect financing to Egypt in 2025.
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7 key facts about the EU’s €4 billion aid to Egypt
What the newly approved financial package means for Egypt’s economy, green transition, and long-term relationship with Europe.
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Egypt CBE sells T-bills worth EGP 141.2 bln
The Central Bank of Egypt has announced a significant treasury bills (T-bills) sale, totalling approximately EGP 141.2 billion (almost $3 billion).
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NBE, Banque Misr cut interest rate on US dollar CDs
The NBE reduced the interest rate on the three-year “Al Ahly Fawran” and “Al Ahly Plus” dollar-denominated savings certificates by 0.5 percent.
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10 key facts about Egypt’s $2.5 billion IMF financing package
This financial support comes as the country navigates economic challenges, including regional instability and external financial pressures.
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IMF approves $1.2 billion for Egypt
Cairo has requested financing under the RSF since 2022, with hopes it could unlock up to an additional $1 billion.
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IMF approves $1.2 billion for Egypt
Cairo has requested financing under the RSF since 2022, with hopes it could unlock up to an additional $1 billion.
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Federation of Egyptian Banks denies links to GRA platform
The Federation of Egyptian Banks (FDE) denied Thursday any connections or accounts between banks operating in Egypt and the GRA platform.