Bank News
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United Bank eyes raising up to EGP 5.1 bln in EGX offering
The United Bank (UB) is aiming to raise between EGP 4.16 billion and EGP 5.14 billion in the upcoming initial public offering (IPO) on the EGX.
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EBRD guarantee to QNB Egypt to unlock €70 million for small firms in Egypt
The agreement was signed by Jürgen Rigterink, EBRD First Vice President, and Mohamed Bedeir, QNB-Egypt Chief Executive Officer.
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Egypt’s IMF Debts Represent 69% Of Total Arab Countries' Obligations
Egypt's total obligations to the IMF hit $13.2 billion , exceeding the combined IMF debts of eight Arab countries.
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Egypt, IMF to map out most effective, comprehensive reform paths
Prime Minister Mostafa Madbouly stated in the weekly government meeting that the International Monetary Fund (IMF), in partnership with the government
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Egypt net int'l reserves increase to $46.9 bln by end-October
Egypt's net international reserves (NIRs) increased to $46.9 billion by the end of October, up from $46.7 billion in September.
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Egypt, Djibouti central banks partner for training
The Central Bank of Egypt (CBE) announced Tuesday that it has partnered with the Central Bank of Djibouti (CBD) to conduct a comprehensive training.
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Egypt: 4th Review of IMF Loan Program to Start Today
The IMF increased the size of its loan to Egypt to $8 billion from $3 billion in March.
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Egypt's CBE sells €642.8 mln euro-denominated T-Bills
CBE sold €642.8 million in euro-denominated treasury bills (T-bills) on Monday, with a maturity period of 364 days, according to the bank’s website.
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ALEXBANK signed MoU with Cassa Depositi e Prestiti to Support Egypt’s rural development
The MoU establishes a collaborative framework between ALEXBANK and CDP focusing on providing Egyptian farmers and agribusinesses.
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No devaluation expected after Banque Misr raised USD CDs yield
Raising the yields on US dollar-denominated certificates and other deposits by Banque Misr does not indicate an expected devaluation of currency.
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Egypt's United Bank to list on Cairo stock exchange on Oct. 24
United Bank made a net profit of 1.74 billion Egyptian pounds in the financial year to end June on assets of 106 billion Egyptian pounds.
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For 15 days, Egyptian banks open accounts for free without a minimum
The MBC Masr channel reported that this step comes on the occasion of the Global Week for Financial Inclusion and the World Savings Day.
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CBE allows financial inclusion accounts in foreign currencies
The central bank also announced that direct debit cards can be issued in the same currency as the accounts after obtaining the necessary approvals.
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Egypt to launch its first digital bank
The Central Bank of Egypt (CBE) has granted Misr Digital Innovation (MDI) preliminary approval to launch the country's first digital bank.
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Egyptian Banks Cut Interest on Dollar Certificates
The national Bank of Egypt (NBE) and Banque Misr, the two largest government banks, cut interest on 3-year dollar savings certificates by about 0.50%.
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Blom Bank in Talks with Bahrain's ABC to Sell Egyptian Unit
Blom Bank owns 99.42% of the issued share capital of Blom Bank Egypt, the statement said.
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Egypt's current account falls into deficit in 2nd quarter
The current account flipped to a $3.71 billion deficit in the April-June quarter from a $557 million surplus a year earlier.
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Sunday off for all Egypt banks on anniversary of 6 October victory
Sunday will be a holiday for all banks in Egypt on the anniversary of the 6th of October war triumph, the Central Bank of Egypt (CBE) said.
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In Q4 of 2023–2024, Egypt’s State debt decreases by 2.1%
Data from the ministry indicates that short-term domestic debt decreased by 2.9 percent to LE 7.33 trillion.
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Egypt’s central bank inks MoU with Tunisian counterpart
The MoU aims to exchange experiences and knowledge through workshops, training courses, and conferences.