A Danish business delegation will visit Egypt before the end of this year to explore new investment opportunities in different sectors, Danish ambassador to Egypt Susanne Shine said Wednesday.
The delegation includes a number of Denmark's giant (...)
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 (...)
Foreign direct investment in Egypt rose to $7.9 billion in the 2016-17 financial year that ended last June, compared to $6.93 billion the previous year, the central bank said Tuesday.
Egypt late last year signed a $12 billion three-year (...)
Morocco's Attijariwafa Bank plans to rebrand its recently acquired Barclays' assets in Egypt under the Attijari Bank Egypt by mid-November, sources with direct knowledge said Sunday.
Britain's Barclays signed in October last year an agreement to (...)
Egypt's Arab African International Bank has signed a financing deal with European Bank for Reconstruction and Development (EBRD) to finance small and medium-sized companies, sources with direct knowledge said Thursday.
Since May, AAIB has been in (...)
Egypt's El Sewedy Electric has signed a $150 million contract with Electricité de France (EDF) and the European Bank for Reconstruction and Development (EBRD) to build two solar power stations in the North African country.
The solar power stations (...)
National Bank of Egypt (NBE), the country's largest state bank, deposits rose in August to around 874 billion Egyptian pounds ($49.5 billion).
The bank has raised ‘huge liquidity' from its high-yield certificates of deposits since the Egyptian pound (...)
AlexBank, a member of Italian bank Intesa Sanpaolo, signed Tuesday a memorandum with the National Council for Women aimed to improve the financial inclusion of Egyptian women living in rural areas.
The bank is set to develop a bundle of financial (...)
The World Bank has recently provided funding worth $4 billion in Egypt's energy sector, Egyptian Investment Minister Sahar Nasr said Tuesday.
The funding includes $3 billion for supporting economic reforms in the sector and $635 million worth of (...)
A high-level delegation from the African Development Bank (AfDB) has arrived in Egypt to prepare for a review required before disbursing the third and final installment of a three-year $1.5-billion loan.
Leila Mokaddem, Resident Representative for (...)
Egypt's banks made 62 billion Egyptian pounds ($3.5 billion) in net profit at the end of 2016 from 34 billion pounds a year earlier, a central bank recent report read.
Last year's pretax profits were up 65 percent from the previous year, as they (...)
Egypt's Faisal Islamic Bank has collected around $300 million since the central bank floated the pound currency in November 2016, said executive chairman assistant on Sunday.
"We don't have any pending requests for letters of credit from traders," (...)
An African Development Bank (AfDB) high-level delegation will arrive in Egypt next October 2-8, headed by the bank's vice president for regional development, integration, and business delivery Khaled Sherif.
Mohamed El Azizi, AfDB's Director General (...)
The Egyptian banking system's local-currency liquidity surged in June than in the previous month, recording 2.920 trillion Egyptian pounds ($165.3 billion), a central bank recent report read.
In May, liquidity stood at 2.849 trillion pounds.
The (...)
The European Bank for Reconstruction and Development (EBRD) is very optimistic about the future of the Egyptian economy, said Janet Heckman, Managing Director for the Southern and Eastern Mediterranean region, told Amwal Al Ghad in a recent (...)
U.S. food producer Cargill Inc says it is keen to increase investments in Egypt to $350 million, a statement by the Egyptian Ministry of Investment said Thursday.
"Cargill's regional director in Egypt, Melvin Minke, said that his company's (...)
The African Development Bank (AfDB) has so far invested $1.9 billion in Egypt as part of the three-year country strategy for 2015-2019, an official in the bank said.
The money is distributed as $1 billion to support Egypt's economic reform (...)
Emirates NBD, Dubai's largest lender, reported Thursday a 10.5 percent fall in first-half profits in Egypt.
The profits were squeezed by rise in impairments against credit losses by 567 percent as well as higher administrative and operational costs, (...)
Egypt plans to build three phosphate factories in New Valley province in the Western Desert, with investments ranging between 15 billion and 20 billion Egyptian pounds ($845.5 million-$1.1 billion).
The factories are part of the Egyptian (...)
Abu Dhabi Islamic Bank (ADIB) says first-half net profit in Egypt rose 23.8 percent from a year ago to record 211.9 million Egyptian pounds ($12 million).
The Emirati bank in Egypt posted a net profit of 171.2 million pounds at the end of June (...)
Egypt's Societe Arab Internationale de Banque (SAIB) reported a 24 percent fall in its first half profits between December 2016 to June 2017.
The bank made profits worth $23.421 million at the end of June 2017 from $30.982 million at the end of (...)
An African Development Bank (AfDB) delegation will arrive in Cairo next September for a mid-term review required before disbursing the third and final installment of a three-year $1.5-billion loan, an official in the bank said Sunday.
The delegation (...)
Egypt is negotiating for a new financing assistance from the European Bank for Reconstruction and Development (EBRD) to back a wastewater management scheme in the country.
The depollution of the Kitchener Drain scheme will address environmental (...)
Crédit Agricole SA says first-half net profit in Egypt rose 49.8 percent from a year ago to record 941.04 million Egyptian pounds ($53 million).
Earlier, the French bank posted a net profit of 633.3 million pounds in Egypt during the first half of (...)
HSBC Plc says first-half profit before tax in Egypt has dropped 40 percent from a year ago to record $143 million.
The bank in Egypt posted profit before tax of $235 million at the end of June 2016.
HSBC Egypt's Retail Banking and Wealth Management (...)