Egypt's central bank (CBE) made a profit in December for the first time since the devaluation of the local pound currency in late 2016.
The CBE posted a net profit of 1.058 billion Egyptian pounds ($34.5 million) as of the end of December 2022 in (...)
Egypt's net foreign reserves rose to $34.224 billion at the end of January from $34.002 billion at the end of December, a central bank data showed on Sunday.
Foreign currencies in the country's foreign reserves include U.S. dollar, euro, Australian (...)
The French Development Agency (AFD) is earmarking a financing package worth up to €153.2 million ($149.2 million) for the National Bank of Egypt (NBE), Banque Misr, and Banque du Caire, an official source said on Thursday.
The agreements will be (...)
Commercial International Bank (CIB), one of Egypt's largest private banks, is planning to provide an extra financing worth 100 million Egyptian pounds ($5.1 million) to Aman for Microfinance to be on-lent to small business.
When received, the CIB's (...)
Egyptian pound weakened on Wednesday to its lowest against the U.S. dollar since its devaluation in November 2016.
The pound traded as low as 19.49 to the U.S. dollar, down from 19.18 at Tuesday's closing.
This is the biggest loss in value for the (...)
The African Development Bank (AfDB) is considering a new line of credit up to $100 million to Egypt's state-run lender Banque Misr for on-lending to small and medium-sized businesses.
AfDB and Banque Misr is expected to sign the new financing (...)
The Commercial International Bank (CIB-Egypt), is taking part in two projects for climate change adaptation in Egypt, said its chief sustainability officer Dalia Abdel Kader on Thursday.
Abdel Kader made her remarks at the Egypt International (...)
Egypt's Ministry of International Cooperation and the African Development Bank (AfDB) launched on Thursday the new country strategy 2022-2026 on the sidelines of the Egypt-International Cooperation Forum (Egypt-ICF 2022).
The main objectives of the (...)
The implementation of mammoth African free trade agreement, known as the AfCFTA, will help cut carbon dioxide emissions in the continent by 80 percent, said chairman of African Export–Import Bank (Afreximbank) on Wednesday.
Speaking at the Egypt-ICF (...)
President Abdel Fattah al-Sisi said on Wednesday that green investing in Egypt continues to surge, currently accounts for 40 percent of total investments in the country, and will reach 50 percent by 2023.
Speaking at the Egypt-International (...)
Commercial International Bank (CIB), one of Egypt's largest private banks, is planning to hike its issued capital by around a third to 29.825 billion Egyptian pounds ($1.5 billion) from 19.852 billion pounds.
The bank said it submitted documents to (...)
Remittances from Egyptians working abroad rose 1.6 percent year-on-year to around $31.9 billion during the financial year 2021/2022 ended last June, the central bank said on Tuesday.
Remittances during the financial year 2020/2021 stood at $31.4 (...)
Egypt's net foreign reserves fell to $33.143 billion at the end of July from $33.375 billion at the end of June, a central bank data showed on Sunday.
Foreign reserves have been declining since March following the outbreak of the Russian war in (...)
The National Bank of Kuwait – Egypt (NBK Egypt) has secured a $40 million loan from the European Bank for Reconstruction and Development (EBRD) to be on lent to eligible micro, small and medium-sized enterprises (MSMEs).
The loan is under the EBRD's (...)
The French Development Agency (AFD) has chosen the Suez Canal city of Ismailia to finance the development of the first wholesale market under agreements and contracts signed with Egypt last year, an AFD official said on Tuesday.
The second wholesale (...)
The French Development Agency (AFD) will sign a financing agreement worth around €140 million ($150.1 million) with Egypt's biggest three public banks by the end of the third quarter of the year.
The deal will see AFD giving €50 million to the (...)
Egypt's two biggest state banks, the National Bank of Egypt (NBE) and Banque Misr have collected 705 billion Egyptian pounds ($38.1 billion) from the high-yielding savings certificates it introduced on March 21.
The one-year certificates, have an 18 (...)
Egypt's two biggest state banks have collected 636 billion Egyptian pounds (around $($34.4 billion) from rom the high-yielding savings certificates it introduced on March 21, officials from the two banks were quoted as saying on Monday.
The one-year (...)
Egypt's biggest state lender, the National Bank of Egypt (NBE) has raised 425 billion Egyptian pounds ($23 billion) from the high-yielding savings certificates it introduced on March 21, said deputy chairman Yehia Aboul Fotouh on Sunday.
The (...)
Egypt's second-largest state lender Banque Misr has collected 87 billion pounds ($4.75 billion) from the high-yielding savings certificates it introduced eight days ago, said chairman Mohamed El-Etreby on Monday.
The one-year certificates, carry an (...)
Egypt's second-largest state lender Banque Misr has collected 31 billion Egyptian pounds ($1.7 billion) from a new high-yielding savings certificates it introduced three days ago, said chairman Mohamed El-Etreby on Wednesday.
The one-year (...)
CI Capital Holding for Financial Investments has acquired almost 27 percent stake in Cleopatra Hospitals in a deal valued at more than 2 billion Egyptian pounds ($127.3 million), chairman of Banque Misr said on Tuesday.
Banque Misr, Egypt's second (...)
The French Development Agency (AFD) is expected to sign a new financing agreement worth around €150 million ($169 million) with three Egyptian public lenders within the first quarter of 2022, an official source said on Wednesday.
The three Egyptian (...)
Amwal Al Ghad on Tuesday demonstrates the exchange rates of key global currencies against the Egyptian pound according to the National Bank of Egypt (NBE) as of October 27, 2020.
Key foreign currencies:
Currency Buying Price Selling Price
U.S. (...)
Amwal Al Ghad on Tuesday demonstrates the exchange rates of key global currencies; U.S. dollar, euro, pound sterling, Kuwaiti dinar, Saudi riyal, and Japanese yen, in major Egyptian banks.
The table below shows the exchange rates of a number of key (...)