Egypt's second largest public bank Banque Misr reported on Wednesday a 53.7 percent growth in pretax profit at the end of September 2021.
Pretax profit recorded 37.246 billion Egyptian pounds ($2.4 billion) at the end of September 2021 from 24.230 (...)
The National Bank of Egypt (NBE), the country's biggest state lender, said on Sunday its pretax profit rose to 48.263 billion Egyptian pounds ($3.1 billion) in the July 2020 to September 2021 period.
Earlier, pretax profit stood at 30.602 billion (...)
Banks in Egypt reported a 16.9 percent surge in the size of deposits to 6.077 trillion Egyptian pounds ($386.8 billion) at the end of September from 5.196 trillion pounds at the end of December 2020.
According to a report released by the Egyptian (...)
Remittances from Egyptians working abroad reported a 1.5 percent year-on-year growth the first quarter of the financial year 2021-2022 that began in July, a central bank official said on Tuesday.
A key source of foreign currency for Egypt, (...)
Attijariwafa Bank Egypt's general assembly has recently approved paid-up capital increase to 5 billion Egyptian pounds ($317.7 million), managing director Hicham Seffa said on Wednesday.
The capital increase reflects the bank's strength and firm (...)
HSBC has launched on Tuesday a Foras Trade Fund worth 3 billion Egyptian pounds ($191 million) to support small and medium-sized enterprises (SMEs) across Egypt.
This is part of the bank's commitment to explore opportunities overseas and drive (...)
Egypt's net foreign reserves slightly inched up to $40.85 billion at the end of October from $40.825 billion at the end of September, a central bank provisional data showed on Wednesday.
Foreign reserves have been growing since June 2020, after (...)
Attijariwafa Bank Egypt reported on Monday a 65 percent growth in net profit after tax for the first six months of the year.
Net profit after tax stood at 220.8 million Egyptian pounds ($14 million) at the end of June 2021 from 133.6 million pounds (...)
Remittances from Egyptians working abroad surged 13.2 percent year-on-year during the financial year 2020/2021 ended last June, a central bank provisional data showed on Monday.
Remittances recorded $31.4 billion from $27.8 billion in the July 2019 (...)
Egypt's net foreign reserves stood at $40.672 billion at the end of August, up slightly from $40.609 billion in July, a central bank provisional data showed on Monday.
Foreign reserves have been witnessing growth since June 2020, after falling to (...)
Egypt's Arab African International Bank (AAIB) reported on Saturday over 13 percent year-on-year growth in profit for the first half of the year.
Profit stood at $77.288 million at the end of June 2021, up from $68.121 million at the end of June (...)
Egypt's M2 money supply grew by 17.2 percent year-on-year in July, central bank statistics published on Tuesday showed.
Money supply stood at 5.43 trillion Egyptian pounds ($346 billion), up from 4.63 trillion pounds a year earlier.
Egypt's domestic (...)
Banque du Caire (BdC), Egypt's third largest public state-lender, reported on Monday a 7 percent year-on-year growth in net profit for the first half of the year.
According to BdC's standalone financial statements, the bank made first-half net (...)
Egypt's state-run Housing and Development Bank (HD Bank) reported on Monday a 5.6 percent year-on-year decline in net profit for the first half of the year.
The bank made a net profit worth 1.004 billion Egyptian pounds ($64 million) throughout (...)
Banque du Caire (BdC), Egypt's third largest public state-lender, announced on Tuesday it had received the central bank's e-signature licence.
This makes BdC the first bank in Egypt certified to exchange digitally signed banking forms, as well as (...)
Al Baraka Bank Egypt, part of Bahraini Islamic lender Al Baraka Group, said on Tuesday its board had chosen Hazem Hegazy, executive vice chairman of Banque du Caire, to be the bank's new vice chairman and chief executive.
Hegazy's appointment as CEO (...)
Banque Misr, Egypt's second largest bank, reported on Wednesday a 109 percent year-on-year growth in net profit for the first quarter of the year.
Net profit rose to 2.400 billion Egyptian pounds ($152.8 million) for the January to March (...)
Remittances from Egyptians working abroad grew 13.0 percent year-on-year in the July 2020 to May 2021 period, the first 11 months of Egypt's financial year, the central bank said on Tuesday.
Remittances rose to around $28.5 billion from $25.2 (...)
Egypt's state-run Housing and Development Bank (HD Bank) reported on Sunday a net profit after tax of 1.450 billion Egyptian pounds ($92.4 million) for the first half of the year.
Profits before tax rose 10.8 percent year-on-year to 1.450 billion (...)
Egypt's Suez Canal Bank reported on Sunday an 8 percent year-on-year growth in its net profit for the first half of the year driven by a surge in fee and commission revenue.
Net profit rose to 241 million Egyptian pounds ($15.3 million) at the end (...)
Egypt's year-on-year core inflation accelerated to 4.6 percent in July from 3.8 percent in June, the central bank said on Tuesday.
Month-on-month inflation quickened to 0.6 percent in July from 0.1 percent in June, the central bank added. Core (...)
Abu Dhabi Commercial Bank – Egypt (ADCB-Egypt), part of Abu Dhabi Commercial Bank, reported on Sunday an 83 percent year-on-year jump in net profit for the first half of the year.
Net profit grew to 358 million Egyptian pounds ($22.8 million) for (...)
Emirates NBD Egypt Bank announced on Sunday the provision of 2 billion Egyptian pounds ($127.4 million) to finance the construction of Egypt's biggest agricultural wastewater treatment plant.
A consortium of Orascom Construction, Hassan Allam, Arab (...)
Egypt's gold reserves, a major component of foreign cash reserves, rose to around $4.268 billion in July from $4.111 billion in June, the central bank data announced on Wednesday.
The country's net foreign reserves edged up to $40.609 billion in (...)
Egypt's net foreign reserves rose to $40.609 billion in July from $40.584 billion in June, a central bank data showed on Wednesday.
Foreign reserves have been witnessing growth since June 2020, after declining to around $36 billion from more than (...)
