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 (...)
Egypt's Faisal Islamic Bank said Sunday it had completed upgrading its information technology infrastructure and systems during April.
Accounting firm Ernst & Young has conducted the studies on modernising Faisal Islamic Bank's technology (...)
Banque Du Caire, one of Egypt's largest and oldest public lenders, is planning to double its financing for small and medium-sized businesses to 4 billion Egyptian pounds ($221 million) at the end of this year.
The SMEs portfolio at the bank (...)
Banks in Egypt have contributed around 3 billion Egyptian pounds ($165.8 million) to corporate social responsibility projects, said central bank's deputy governor Gamal Negm on Saturday.
The Federation of Egyptian Banks announced a week earlier it (...)
Egypt's second largest state-owned lender, Banque Misr said Sunday it has provided around $5 billion to cover import payments since the central bank devalued pound in early November.
Mohamed Eletreby, Banque Misr's chairman, told Amwal Al Ghad that (...)
The Federation of Egyptian Banks is allocating 100 million Egyptian pounds ($5.5 million) for the second phase of a project to develop and upgrade the informal areas in Helwan, a southern suburb of Cairo.
The Federation has signed Thursday a (...)
Egypt's second largest bank, state-owned Banque Misr will open its representative office in Russia in the second half of the current year, its vice chairman Akef El Maghraby told Amwal Al Ghad on Monday.
The bank has also plans to set up presence in (...)
Egyptian banks have raised 101 billion Egyptian pounds ($5.6 billion) in finances for around 37,000 small and medium-sized enterprises, central bank deputy governor Gamal Negm said Monday.
"The banks have also granted more than 6 billion pounds as (...)
Egypt's central bank is preparing the ground to launch a new initiative dedicated for the microfinance sector before the end of this month, deputy governor Gamal Negm announced Monday.
According to the new initiative, the banks will not be obliged (...)
Small and medium-sized enterprises are representing 18 percent of Egypt-based Misr Iran Development Bank's total credit portfolio of 7 billion Egyptian pounds ($386.6 million), managing director Amr Tantawi said Monday.
MIDB seeks to reach 20 (...)
Egypt's eighth largest commercial bank, Bank Audi S.A.E., has raised more than 3 billion Egyptian pounds ($165.5 million) from its high-yielding certificates of deposit, its deputy chief announced Monday.
Bank Audi Egypt has offered 18-month (...)
Egypt's eighth largest commercial bank, Bank Audi S.A.E., has registered nine-month net profit of 619.3 million Egyptian pounds ($32 million), its deputy chief announced Tuesday.
Mohamed Abbas Fayed further told Amwal Al Ghad that Bank Audi Egypt's (...)
Egypt's second biggest state lender, Banque Misr is planning to inaugurate 195 more branches within two and three years, its chairman Mohamed Eletreby told Amwal Al Ghad on Wednesday.
The bank seeks to have a network of 775 branches, agencies, and (...)
Egypt will offer a 45 percent stake in state-run Banque du Caire on the local stock market in the second quarter of 2017, an official in the parent company told Amwal Al Ghad on Saturday.
Misr Financial Investments Company is Banque Misr's (...)
Factoring and financial leasing can play a critical role in reviving small and medium-sized businesses in Egypt, said an official in the German Agency for International Cooperation (GIZ) on Wednesday.
Egyptian government has to focus more on these (...)
A loan provided to finance Telecom Egypt's 4G mobile plans has been raised to 8 billion Egyptian pounds ($901 million) from 5 billion pounds, senior banking sources told Amwal Al Ghad on Thursday.
An alliance consisting of National Bank of Egypt (...)
National Bank of Egypt (NBE), the country's biggest public lender, plans to establish 72 centres for small and medium-sized businesses in Cairo and Alexandria, a banking official told Amwal Al Ghad Wednesday.
Hazem Hegazy, Head of retail banking at (...)
Egypt is negotiating a $200 million funding from the African Development Bank Group to finance small and medium-sized businesses in the country, an AfDB official announced Monday.
Leila Mokaddem, Resident Representative for Egypt at the AfDB, (...)
Egypt's state-run United Bank is studying contributions worth around 1 billion Egyptian pounds ($112.6 million) to upcoming syndicated loans, its chairman announced Tuesday.
Ashraf El Kady further said his bank plans to pump finances into several (...)
The African Development Bank (AfDB)'s current portfolio for Egypt has surged to $2.24 billion, Leila Mokaddem, Resident Representative for Egypt at the AfDB, announced on Monday.
The increase came after Egypt had received the first tranche of AfDB's (...)
Egypt's state-run United Bank is planning to boost its market share in the country to 3 percent within 2019, its chairman Ashraf El Kady announced Sunday.
It is part of a four-year strategy to expand the bank's market share, volume of deposits and (...)
The African Development Bank (AfDB) Group is preparing for a new strategy to support Egypt's agriculture sector with the country's largest public lender National Bank of Egypt, an AfDB official announced Wednesday.
Leila Mokaddem, Resident (...)
Egypt's state-run United Bank seeks to reduce its portfolio of bad loans to 2.5 billion Egyptian pounds ($281.5 million) by the end of the current year, said its chairman on Sunday.
Ashraf El Kady further told Amwal Al Ghad that the current (...)
The African Development Bank (AfDB) Group has endorsed Sunday its newest job creation project: Jobs for Youth Employment to improve entrepreneurship skills of Egyptian youths.
Earlier in May, President of the AfDB, Akinwunmi Adesina announced on the (...)
Egypt is likely to receive the second tranche of the African Development Bank (AfDB)'s loan before the end of the current year, an AfDB official told Amwal Al Ghad on Tuesday.
The sum worth $500 million, which is part of a $1.5 billion loan (...)