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 Arab African International Bank (AAIB) is seeking to obtain finances ranging between 250 million Egyptian pounds and 300 million pounds from several banks this year.
AAIB has so far received approvals from three banks to secure loans, a (...)
Egypt's Arab African International Bank (AAIB) is planning to set up an African presence after 2020, senior sources in the bank told Amwal Al Ghad on Tuesday.
The bank has chosen Rwanda and Kenya to make its African presence, the sources (...)
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 (...)
Three banks are seeking the Egyptian market regulator's approval to obtain licences designated to practice factoring activities.
One of the three bidders is Banque Misr, the country's second largest public bank, a senior source in the Egyptian (...)
Egypt's Arab African International Bank (AAIB) plans to complete upgrading its information technology systems before June, sources with knowledge in the bank told Amwal Al Ghad on Wednesday.
Through the upgrade move, the bank aims to start applying (...)
Egypt's Misr Iran Development Bank (MIDB) says profits had risen to one billion Egyptian pounds ($55 million) during 2016, significantly benefited from the central bank move to float the currency on Nov 3.
The country's central bank decided on Nov 3 (...)
The European Bank for Reconstruction and Development (EBRD) has provided the Egyptian Gulf Bank a $20 million loan, an official in the EGBank announced Saturday.
The loan is to support the small and medium-sized businesses in Egypt, said Ahmed Nagy (...)
Deposits from the Gulf to Egypt's central bank (CBE) have fallen to record $2 billion during 2016, from $31 billion earlier in 2011, CBE governor Tarek Amer said Monday.
"This fall has affected indeed the CBE's foreign currency liquidity," Amer (...)
Cairo-based Arab African International Bank (AAIB) and SANAD Fund for MSMEs, part of the German state-run Kfw Development Bank, are forming a new company to practice microfinancing activities in Egypt.
AAIB has submitted the constitutional documents (...)
A consortium of four Egyptian leasing firms is arranging a syndicating financing worth 450 million Egyptian pounds ($25.6 million) for a local property developer.
The financing will be directed for some construction works in the property developer's (...)
Egypt's central bank is preparing the ground to launch a new initiative dedicated for the microfinance sector before the end of this financial year, banking sources with knowledge told Amwal Al Ghad on Wednesday.
The Central Bank of Egypt (CBE) (...)
The International Finance Corporation (IFC), a member of the World Bank Group, approves to provide Egypt's Arab African International Bank (AAIB) with $100 million loan aimed at boosting dollar liquidity.
IFC is set to sign the loan agreement with (...)
Egypt-based leading Contracting Company Al-Abd targets delivering 16 housing buildings in Al Asmarat City, Mokattam, by June 2017 with total cost of 200 million Egyptian pounds ($10.6 million).
Said Fattouh, vice chairman, said Sunday that his (...)
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 (...)
Egypt's central bank will hold Thursday an exceptional auction for $4 billion, senior banking sources told Amwal Al Ghad this morning.
The auction is to help cover importers' pending foreign currency financing needs, following a move to freely float (...)
Egypt's Nasser Social Bank (NSB) is planning to spend around 100 million Egyptian pounds ($) to upgrade its information technology systems, its chairman Mohamed Shoman announced Wednesday.
As part of technology system upgrade plan, Nasser Bank seeks (...)
Emirates NBD will be launching in Egypt a new division for the small and medium sized industries by next week, said General Manager of Retail Banking and Wealth Management, Fredrick de Melker on Monday.
The Egyptian arm of the UAE lender is (...)
Egypt's Nasser Social Bank (NSB) says it plans to pump 200 million Egyptian pounds ($22.5 million) into its capital within the current year, to stand at 2.2 billion pounds.
NSB's board has approved the capital increase step, which comes as part of (...)
The Islamic Development Bank (IDB) is planning to inaugurate its representation office in Egypt within the current year, an official in the bank's private sector arm announced Tuesday.
The bank is in the final stage of establishing its (...)
The volume of Islamic Development Bank (IDB)'s investments in Egypt currently amounts to US$3.7 billion, said director of asset management and advisory activities of the Islamic Corporation for the Development of the Private Sector (ICD).
ICD is (...)
The Islamic Development Bank (IDB) is studying establishing a mutual fund for the small and medium-sized enterprises in cooperation with the European Bank for Reconstruction and Development (EBRD).
The understudy fund will be with a capital worth (...)