Banque Du Caire, one of Egypt's largest and oldest public banks, is considering spending between €30 million and €35 million ($34.8 million and $40.6 million) on two syndicated loans.
The bank may pump €20 million into Suez Canal Authority's loan of (...)
Egypt's second largest bank, state-owned Banque Misr will open its representative office in Russia in the second half of the current year, its vice chairman Akef El Maghraby told Amwal Al Ghad on Monday.
The bank has also plans to set up presence in (...)
Egyptian banks have raised 101 billion Egyptian pounds ($5.6 billion) in finances for around 37,000 small and medium-sized enterprises, central bank deputy governor Gamal Negm said Monday.
"The banks have also granted more than 6 billion pounds as (...)
Egypt's central bank is preparing the ground to launch a new initiative dedicated for the microfinance sector before the end of this month, deputy governor Gamal Negm announced Monday.
According to the new initiative, the banks will not be obliged (...)
Small and medium-sized enterprises are representing 18 percent of Egypt-based Misr Iran Development Bank's total credit portfolio of 7 billion Egyptian pounds ($386.6 million), managing director Amr Tantawi said Monday.
MIDB seeks to reach 20 (...)
Egypt will offer a 45 percent stake in state-run Banque du Caire on the local stock market in the second quarter of 2017, an official in the parent company told Amwal Al Ghad on Saturday.
Misr Financial Investments Company is Banque Misr's (...)
The Islamic Development Bank (IDB) is planning to inaugurate its representation office in Egypt within the current year, an official in the bank's private sector arm announced Tuesday.
The bank is in the final stage of establishing its (...)
The volume of Islamic Development Bank (IDB)'s investments in Egypt currently amounts to US$3.7 billion, said director of asset management and advisory activities of the Islamic Corporation for the Development of the Private Sector (ICD).
ICD is (...)
The Islamic Development Bank (IDB) is studying establishing a mutual fund for the small and medium-sized enterprises in cooperation with the European Bank for Reconstruction and Development (EBRD).
The understudy fund will be with a capital worth (...)
The National Bank of Egypt's (NBE) representative office in Dubai is in talks with some international institutions in a bid to allure new investors to the Egyptian bourse, its chairman announced Thursday.
Hisham Okasha, Chairman of NBE, further said (...)
The Arab Investment Bank (AIBK) is studying pumping 420 million Egyptian pounds (US$47.3 million) in favour of small and medium-sized enterprises (SMEs), head of SME Division announced Thursday.
The money will go for around 490 SME clients, Adel (...)
The European Bank for Reconstruction and Development (EBRD) pumped €3.5 billion (around US$4 billion) in the past five years to finance
The European Bank for Reconstruction and Development (EBRD) has invested €3.5 billion (around US$4 billion) in (...)
Egypt's second-largest state lender, Banque Misr is negotiating with some foreign financial institutions for a $150 million loan to shore up its foreign currency resources, bank's chief Mohamed Eletreby said Tuesday.
Banque Misr has recently (...)
National Bank of Egypt, the biggest state-owned bank, is studying arranging 400 million Egyptian pounds ($ 45 million) worth of credit facilities for three leasing companies, said its vice chairman Thursday.
Yehia Aboul Fotouh, NBE's Vice Chairman, (...)
National Bank of Egypt, the biggest state-owned bank, is studying arranging a 2 billion Egyptian pounds ($225.2 million) syndicated loan for the country's port sector, said its vice chairman Monday.
Yehia Aboul Fotouh, NBE's Vice Chairman, told (...)
State-run Arab Investment Bank plans to float some of its shares on Egypt stock exchange, the bank's chairman Hani Seif El-Nasr told Amwal Al Ghad Monday.
Arab Investment Bank's current shareholding comprises the state-run National Investment Bank, (...)
The state-run Egyptian General Petroleum Corporation (EGPC) has received two banking offers to secure around $325 million, a senior source familiar with the matter told Amwal Al Ghad Saturday.
The financing will go for Assiut Oil Refining Company (...)
Faisal Islamic Bank of Egypt has received the first five applications Thursday related to the central bank's low-income mortgage initiative, said its general bank, Sabry El-Bendary.
In addition, Faisal Islamic Bank aims to inject 200 million (...)
State-run Egyptian Electricity Transmission Company (EETC) is negotiating finance worth 7 billion Egyptian pounds (US$894 million) with local banks, senior banking sources told Amwal Al Ghad Thursday.
The National Bank of Egypt, the country's (...)
National Bank of Egypt (NBE) eyes adding new 10 interactive teller machines (ITM) within the upcoming period, Alaa Farouk -head of retail at NBE- told Amwal Al Ghad Sunday.
The ITM allows the bank's customers to have access to most of bank's (...)
Egyptian Commercial International Bank (CIB) targets inaugurating 25 new branches; including five mini branches, within 2016, Mohamed El Toukhy -head of retail and business banking- said Tuesday.
At the end of 2015, CIB -the biggest commercial bank (...)
The Commercial International Bank (CIB) seized lion's share of Credit Card in Egypt's banking market after acquiring Citibank's retail portfolio, Mohamed El Toukhy -head of retail and business banking- said Monday.
CIB's credit card portfolio is (...)
State-run Egyptian Electricity Holding Company (EEHC) is requesting banks to secure a US$525-million financing.
The financing is designated to resume works on two power plants; the first is in Assiut, located some 320 kilometres (200 miles) south of (...)
The National Bank of Egypt (NBE) is studying arranging a funding worth US$1 billion for one of the state-run oil refineries, a NBE senior source told Amwal Al Ghad Sunday. The financing is set to go for upgrading the oil refinery as part of the (...)
The Arab African International Bank (AAIB) approves a loan worth US$50 million for an Egypt-based petroleum firm Sino Tharwa Drilling, a banking source with knowledge of the matter told Amwal Al Ghad Tuesday. The loan will go for financing Sino (...)