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 (...)
Banque Misr, Egypt's second largest bank, is studying new sharia-compliant credit facilities worth up to 14.2 billion Egyptian pounds ($905 million) for giant firms, vice chairman Akef El Maghraby said on Tuesday.
Last week, the bank and its leasing (...)
The National Bank of Egypt (NBE), the country's largest public lender, reported on Tuesday a 161.6 percent year-on-year growth in net profit for the first quarter of the year.
Net profit rose to 3.613 billion Egyptian pounds ($230.2 million) for the (...)
Egypt's domestic liquidity rose to around 5.361 trillion Egyptian pounds ($213.9 billion) at the end of June from 5.256 trillion pounds in May, the central bank announced on Sunday.
The growth in domestic liquidity was reflected in the growth of the (...)
Al Ahli Bank of Kuwait–Egypt (ABK-Egypt) reported on Sunday a 12 percent year-on-year growth in net profit for the first six months of the year that ended in June.
Net profit rose to 396 million Egyptian pounds ($25.2 million) for the January-June (...)
Banque Misr, Egypt's second largest bank, and its leasing arm BM Lease have signed on Wednesday a 700 million Egyptian pounds ($44.6 million) Islamic seven-year financing deal with Bonyan for Development and Trade.
The seven-year musharakah (...)
A banking consortium has supported SODIC's latest securitisation bond programme with a total investment of 343 million Egyptian pounds ($21.8 million), sources with knowledge of the matter told Amwal Al Ghad on Wednesday.
SODIC, one of the largest (...)
Banque Misr, Egypt's second largest bank, is studying committing 20.8 billion Egyptian pounds ($1.3 billion) in joint lending to several major sectors in the country, vice chairman Akef El Maghraby said on Tuesday.
Akef El Maghraby, vice chairman of (...)
Faisal Islamic Bank of Egypt reported on Thursday a 28.5 percent year-on-year growth in net profit after tax for the first quarter of the year.
Net profit after tax recorded 1.017 billion Egyptian pounds ($64.7 million) at the end of June 2021 from (...)
