Bank News
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Egypt’s balance of payments hits $523.5M surplus by end of September
The CBE attributed the surplus to the growing revenues of tourism, Suez Canal as well as petroleum and non-petroleum exports.
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HoR ratify document of Egypt's accession to Development Bank of "BRICS" Bloc
The BRICS group comprises the major emerging economies, namely Brazil, Russia, India, China, and South Africa. It is headquartered in Shanghai, China.
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Egypt’s Central Bank to issue dollar-denominated T-bills next week
The step reflects the Central Bank of Egypt’s desire to respond to investors’ expectations that interest rates will take an upward curve.
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Remco appoints financial advisor FinBi to assess its investments
Remco is an Egypt-based company that operates in tourism and entertainment projects development and construction.
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Discussed: benefits of Egypt's joining BRICS's new development bank
The Parliament approved an agreement that allows Egypt to join BRICS group's New Development Bank.
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High interest rates carry multiple risks to future of investment in Egypt: EJB
The best way to improve the investment climate in the future is by announcing monetary policies that ensure the stability of policies.
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Egypt’s central bank to review key interest rates on Thursday, the first under IMF loan deal
Egypt’s annual urban consumer inflation continued to rise in December, recording 21.3 percent, the highest since the end of 2017.
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Egypt's Parliament endorses pact to join Brics Bank
Egyptian MPs welcomed the agreement, seeing in it a way to help reduce demand for US dollars.
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Egypt's net foreign assets climb by $2 billion in December
NFAs improved to a negative 494.3 billion Egyptian pounds from a negative 541.5 billion in November.
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Egypt central bank forecast to raise interest rates by 150 bps
The central bank raised rates by a larger-than-expected 300 bps at its last meeting on Dec. 22 and by 200 bps at a surprise meeting on Oct. 27.
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Egypt Central Bank: Pound slips to new low against dollar
Many banks within Egypt were trading at 30 Egyptian pounds for $1 earlier this month.
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Egyptian banks' high-yield certificates of deposit pull in EGP 460 billion
Proceeds from the 25 percent and 22.5 percent saving certificates of deposit offered by Banque Misr and the NBE garnered EGP 460 billion in a month.
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Egypt's parliament approves joining BRICS affiliated bank "NDB"
Egypt aims to benefit from the areas that fall within the various activities of the bank, including supporting sustainable development.
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Egypt banks stop issuance of CDs by the end of January
The search rates of citizens who wish to purchase the new Certificates of Deposit (CDs) with a return of 25 percent introduced recently have increased
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CIB tops Egyptian Exchange’s transactions with EGP 2.5bn last week
The EGX weekly report stated that the CIB's share increased 9.5% and accounted for 19.5% of the transactions, at a value of EGP 2.5bn.
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Egypt’s CBE to offer short term T-bills for EGP 35 bln on Sunday
The Central Bank of Egypt (CBE) is set to offer treasury bills (T-bills) with a combined value of EGP 35 billion through two auctions on Sunday.
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Egyptian banks collect EGP 335 billion from 25% saving certificates
Of this amount, EGP 120 billion for Banque Misr and the rest for the National Bank of Egypt (NBE).
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Russian Central Bank includes Egyptian pound in currency exchange rates list
The addition of the new currencies brought the total number of currencies listed by the Russian Central Bank at official daily rates to 43.
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Inertia Egypt secures $44.87mln bridge loan from two banks
Inertia Egypt CEO Ahmed El-Adawy reiterated the importance of supporting the real estate segment by the banking sector.
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Banque du Caire offers savings certificate with interest rate of 25%
The conditions are that the funds are to be spent at the end of the period, or 22.5 percent interest rate to be spent monthly.