Bank News
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Moody's places a review rating of 5 Egyptian banks
The banks' long-term Counterparty Risk Ratings (CRRs) and Baseline Credit Assessments (BCAs) were also placed on review for downgrade.
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EIB grants $15 mln loan to ALEXBANK for Egypt's SMEs green projects
The European Investment Bank (EIB) and ALEXBANK, a subsidiary of Intesa Sanpaolo Group in Egypt, announced the release of a new tranche of$15 million.
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Egypt central bank hires Barclays as adviser on sale of its 99% stake in United Bank
The hiring was as the international financial adviser for the sale of its 99 percent stake in the state-owned United Bank
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Fitch Downgrades 4 Egyptian Banks to 'B' on Sovereign Downgrade; Outlook Negative
We have also downgraded the Government Support Ratings (GSRs) of all four banks to 'b-' from 'b'.
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EBRD, EU, ILX allocate €300 million to enhance private sector financing in Egypt and beyond
The announcement was made during the EBRD's annual meetings taking place in Uzbekistan.
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Egypt’s PM Reviews with World Bank Industry Development Strategy
the national industrial development strategy is being prepared in cooperation and benefit from the expertise of international partners.
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EGP to witness its 4th depreciation against USD by June: Fitch Solutions
Fitch Solutions said that the fourth Egyptian pound devaluation will occur in the context of progress on the divestment strategy Egypt is enacting.
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CBE Updates Licensing, Control Rules for Currency Exchange Companies
This comes in line with developments in the work of the exchange companies sector, supporting their performance and enhancing efficiency.
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Four banks offer highest return on dollar savings certificates in Egypt
US dollar savings certificates for 2023 are available with different returns and various purchase limits starting from $100 per certificate.
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Scenarios for CBE decision on interest rate in Egypt
Many citizens and investors are awaiting the Central Bank of Egypt’s meeting, next central bank meeting is scheduled on May 18.
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The World Bank’s new strategic partnership with Egypt through 2027
The World Bank (WB) is among the international partners that Egypt relies on to bridge its $17 billion financing gap through FY2025/26.
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Egypt’s authorities debunk rumors of forged LE100 banknote
Egyptian security services debunked rumors circulating on Facebook warning citizens against a counterfeit LE100 banknote in the markets..
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2023-2027 Country Partnership Framework bet. Egypt, World Bank endorsed Sunday
The new CPF was prepared through joint work and continuous discussions with all relevant parties from the national authorities.
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Egypt: aiBANK records $56.1mln revenues in 2022
As part of the reform and development restructuring, the bank has developed a clear strategy to invest in the human element.
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Is my money safe? What you need to know about bank failures
Recent turmoil in the banking industry may have you worried about your money.
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CBE, EBC, MasterCard cooperate to implement rules governing e-payment
The tokenization technology replaces private customer data such as the payment card account number with a token.
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Egypt hosts World Bank's IFC summit to enhance women’s economic participation in MENA
Egypt hosted on Wednesday the International Finance Corporation's (IFC) summit on Law and Gender Conference.
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aiBANK Records Revenues worth 1.7bln During 2022
The bank has developed a clear strategy to invest in the human element through continuous human capital development.
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Egypt’s current account deficit sees 77.2% drop
During most of 2022, import restrictions were in place to tackle the North African country's current account shortfall.
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IMF Says Egypt Is Serious About Applying Flexible Exchange Rate
Egypt agreed a $3 billion program from the IMF last year, but billions of dollars in extra financing expected to come.