Bank News
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Egypt Sees Largest Historical Decline in Foreign Debt Value
Net foreign assets represent the assets of the Central Bank of Egypt and the country's commercial banks, held by non-residents, minus their liability.
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CBE approves launch of Egypt’s first digital bank
Onebank will provide customers with fully digitalised banking services, with 24/7 online availability.
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IMF lowers projections for Egypt real GDP growth by 0.3% in FY23/24, FY24/25
In April, the IMF maintained its projection for Egypt’s real GDP growth in 2024 at 3 percent, declining by 0.8 percent compared to 2023 estimation.
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EBRD provides US $130 million loan to Coca-Cola HBC in Egypt
In Egypt, 26.5 per cent of youth are unemployed and many employed individuals tend to work in jobs that lack job security and stability.
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Egypt's IMF loan payout delayed by final details amid difficult environment
The board approval for the third review of Egypt's expanded $8 billion loan program was originally expected on July 10.
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ADIB-Egypt increases card usage limits, reduces foreign currency transaction fees
The cash withdrawal limit for international transactions remains at $50 for most cards.
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Fitch Solutions expects CBE to keep interest rates on hold till end of 2024
BMI, a Fitch Solutions company, expected the Central Bank of Egypt (CBE) to keep its monetary tightening policy on hold.
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Banks operating in Egypt showed significant growth
The net open foreign currency positions as a percentage of total capital base improved significantly to 5.7 percent in March 2024.
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Egypt int'l reserves hit new record at end-May
Egypt's net international reserves (NIRs) rose to $46,3 billion at the end of June, the highest level since the COVID-19 pandemic outbreak.
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Bringing down prices: Government and Central Bank prioritize inflation relief
Al-Homsani explained that the meeting focused on discussing the collaborative efforts between the government and the Central Bank.
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Banks’ Finance Portfolios for MSMEs Grow 362% in 6 Years
CBE added the growth rates of financial inclusion for youth (age group from 16 to 35 years) reached about 48.5% during the period from 2020 to 2023.
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IMF Executive Board to discuss Egypt 3rd review under $8 bln EFF loan 10 July
Once approved by the Executive Board, the IMF will disburse $820 million as a third tranche of the loan to Egypt.
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NBE, Banque Misr, CIB raise credit cards’ limits for int’l purchases inside, outside Egypt
Some state-owned and private banks in Egypt raised on Tuesday the limits of credit cards when being used abroad.
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What did CBE do to reduce and stabilise prices?
CBE impact on market stability, price reduction, and inflation control is evident through several measures adopted in coordination with state agencies
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CBE unveils $1bln debt instruments after Eid holiday
The first auctions stood at EGP 25 billion and will mature in 182 days on 24 December this year, according to official data.
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Banks, Stock Exchange Resume Work Sunday
Bank working hours begin after the end of the Eid Al-Adha holiday at 9 am for banks until 2 pm.
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Egypt Pumps EGP 20 Million in Coins to Avoid Change Shortage on Eid al-Adha
The Ministry of Finance confirmed that 20 million pounds “change” was issued in coins on the occasion of Eid Al-Adha.
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Sisi highlights South-South partnerships to New Development Bank president
The meeting in Cairo reviewed the path of relations between Egypt and NDB, which is the economic arm of the BRICS group.
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Egypt important to the global economy: BRICS' Dev. Bank
Egypt, with its geographical location, acts as a gateway between Asia and Africa and is a crucial corridor for global trade.
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NDB’s first int’l seminar in Egypt: Facts and expectations
The seminar represents an opportunity to familiarize with the bank's operations and explore ways to assist the government and private sector.