Egypt's reserve money (MO) rose to 1.581 trillion Egyptian pounds ($51.144 billion) at the end of the third quarter of the year from 1.496 trillion pounds as of December 2022, a recent central bank data showed.
The MO consists of currency in (...)
Egypt's second largest public bank, Banque Misr posted profit before taxes worth 15.696 billion Egyptian pounds ($508.3 million) in the first quarter of the year.
Earlier, the bank registered pre-tax profit worth 9.790 billion pounds in the first (...)
Egypt's third largest public state-lender, Banque du Caire (BdC) reported on Wednesday a 41 percent year-on-year growth in net profit for the first half of the year.
Net profit recorded 2.6 billion Egyptian pounds ($84.1 million) throughout the six (...)
Egypt's central bank reported on Wednesday a growth in the country's reserve money (MO) to 1.502 trillion Egyptian pounds ($48.5 billion) at the end of this March from 1.496 trillion pounds as of December 2022.
Reserve money (MO) consists of (...)
Egypt's central bank (CBE) has released on Saturday its financial inclusion indicators for 2022, as the figures showed that the country's financial inclusion rates have improved between 2016 and 2022 by 147 percent.
The report added the overall (...)
Commercial International Bank (CIB), one of Egypt's largest private banks, is offering three-year certificates of deposit at 22 percent, it said in a statement on Monday.
The move came few days after the central bank hiked rates by 200 basis points (...)
The National Bank of Egypt and Banque Misr issued on Sunday two savings certificates of deposits (CDs) for three years, with fixed yield of 19 percent and another one with a declining yield of 22 percent, central bank's announcement said.
The second (...)
Abu Dhabi Islamic Bank Egypt (ADIB-Egypt) reported on Sunday a 51 percent year-on-year growth in net profit to 2.190 Egyptian pounds ($70.8 million) in 2022.
Customers' deposits also rose 28 percent to 97.6 billion pounds, while financing portfolio (...)
Abu Dhabi Islamic Bank – Egypt (ADIB-Egypt) said on Sunday it is launching a new sukuk unit worth 10 million Egyptian pounds ($328,103) in capital.
During a press conference in Cairo on Sunday, ADIB Egypt CEO Mohamed Aly said the bank had been (...)
Abu Dhabi Islamic Bank – Egypt (ADIB-Egypt) plans to launch its first digital bank as it seeks to get the Egyptian central bank's approval in the coming period, its CEO Mohamed Aly said on Sunday.
Like many lenders in the Middle East region, ADIB (...)
Egypt's gold reserves, a major component of foreign cash reserves reached $7.372 billion at the end of February, slightly lower from $7.773 billion in January, the Central Bank of Egypt (CBE) said on Sunday.
The foreign currencies' value included in (...)
Egypt's domestic liquidity increased by 335 billion Egyptian pounds to reach 7.737 trillion pounds ($252,6 million) at the end of January 2023, up from 7.402 trillion pounds at the end of December 2022, central bank's statistical figures revealed on (...)
Al Baraka Bank – Egypt reported on Sunday profit before tax of 2.655 billion Egyptian pounds ($87.1 million) during 2022, up from 1.746 billion pounds a year earlier.
Net profit recorded 1.755 billion pounds in 2022 from 1.132 billion pounds in (...)
Egypt's central bank on Saturday announced the schedule of its meetings that determine the course of monetary policy for 2020.
The Central Bank of Egypt's Monetary Policy Committee (MPC) will hold eight meetings during the year and other meetings if (...)
Egypt's second largest public bank Banque Misr said on Sunday its pretax consolidated profits had recorded 16.560 billion Egyptian pounds ($674 million) in the first six month of the year.
Earlier, the bank's pretax profits stood at 46.089 billion (...)
The National Bank of Egypt (NBE), the country's largest public lender, reported on Wednesday net profit of 14.103 billion Egyptian pounds ($575 million) in the first six months of the year.
The bank's net profit for the January to June 2021 period (...)
Egypt's central bank said in a statement on Monday that its monetary policy committee (MPC) meeting, that was scheduled on November 3, is canceled in light of the sufficiency of the exceptional meeting convened earlier last week.
The MPC convened on (...)
The National Bank of Egypt (NBE), the largest state-run lender, will offer a three-year certificate of deposit at 17.25 percent, its deputy chairman Yehia Aboul Fotouh announced on Thursday.
The move followed the central bank's monetary policy (...)
Al Ahli Bank of Kuwait–Egypt (ABK-Egypt) announced on Tuesday it is joining a consortium of seven banks to provide a syndicated loan in favour of El Sewedy Electric.
The syndicated loan, worth 2 billion Egyptian pounds ($102.5 million), will go for (...)
The French Development Agency (AFD) will sign financing agreements with Banque Misr and Banque Du Caire at COP27, the UN climate change summit taking place in Egypt's Sharm El Sheikh this November, an AFD official said on Wednesday.
Speaking at a (...)
Egypt will host the Africa Development Bank Group's (AfDB) upcoming annual meetings in May 2023, following the signing of a memorandum of understanding between AfDB and the Central Bank of Egypt (CBE) on Monday.
The 58th Annual Meetings of the AfDB (...)
Egypt's third largest public state-lender, Banque du Caire (BdC) reported on Tuesday a 6 percent year-on-year growth in standalone pre-tax profit for the first half of the year.
Standalone pre-tax profit recorded 3.1 billion Egyptian pounds ($161.4 (...)
Remittances from expatriate Egyptians rose 2.1 percent year-on-year during the period between July 2021 and May 2022, the central bank said on Sunday.
Remittances recorded $29.1 billion in the July 2021 and May 2022 period from $28.5 billion in the (...)
The National Bank of Egypt (NBE), the country's biggest state-run lender, said on Monday that its retail lending portfolio had grown to 190 billion Egyptian pounds ($10.1 billion) at the end of June from 176 billion pounds in March.
The growth in (...)
Banque Misr chairman Mohamed El-Etreby was elected chairman of the Union of Arab Banks (UAB) on Wednesday for three years.
El-Etreby, who is also chairman of the Federation of Egyptian Banks, will succeed Sheikh Mohamed El -Jarrah El- Sabbah.
The (...)