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 (...)
Remittances from Egyptians working abroad grew by 6.4 percent year-on-year to around $31.5 billion in 2021 from $29.6 billion in 2020, Egypt's central bank (CBE) announced on Monday.
The central bank's preliminary data shows that remittances in (...)
Egypt's net foreign reserves inched up to $40.980 billion at the end of January from $40.934 billion at the end of December, a central bank data showed on Sunday.
Foreign reserves have been growing since June 2020, after dropping to around $36 (...)
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 (...)
