65.5% increase in Egyptian remittances during August: CBE
Remittances from Egyptians working abroad surged by 65.5% in August 2024, reaching around $2.6bn, up from approximately $1.6bn in August 2023. According to the Central Bank of Egypt (CBE), remittances saw a significant increase of 76.2% over July and August
ABE injects EGP 39.8bn into small, micro-enterprises in September
The Agricultural Bank of Egypt (ABE) concluded the third quarter of this year with significant growth in loans allocated to funding SME activities. The bank stimulates various productive sectors to create a competitive national industry in all fields, enhancing local
Suez Canal Bank opens its 53rd branch in Menoufeya’s Shibin El-Kom
Suez Canal Bank inaugurated its latest branch in Shibin El-Kom, Menoufeya to provide its banking services and products to a larger customer base. This aligns with the directions of CBE and Egypt’s Vision 2030 to spread financial inclusion across the
EBank launches Information Security Academy in partnership with EBI
EBank has announced the launch of the Information Security Academy (InfoSec) at the Bank, in partnership with the Egyptian Banking Institute (EBI), the training arm of the Central Bank of Egypt. The Academy aims to nurture young talents and equip
EBRD considers $200m debt finance for 1.1 GW Suez Wind Energy
The European Bank for Reconstruction and Development (EBRD) is considering senior debt financing of up to $200m in debt financing to support Suez Wind Energy, an Egyptian special purpose vehicle (SPV) established to build and operate a 1.1 GW wind
MSMEDA, World Bank partner to upgrade Egyptian entrepreneurship eco-system: Rahmy
Bassel Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), emphasized enhancing Egyptian startups with both financial and technical support, by working on developing innovative ideas to reach the commercialized stage. “Such set of supportive programs targeting
CBE conducts training programme for calibres from Djibouti’s central bank
The Central Bank of Egypt (CBE) conducted a training programme for calibres from the Central Bank of Djibouti (CBD) covering the latest operational systems employed in key areas, including the International Transactions Reporting System (ITRS) in Egypt – a primary
CIB reports Q3 standalone revenues of EGP 25.2bn
The Commercial International Bank – Egypt (CIB) has reported third-quarter 2024 standalone revenues of EGP 25.2bn, up 98% from third-quarter 2023. The bank’s nine-month 2024 standalone revenues were EGP 71.4bn, up 87% from the same period in 2023, on the
CBE receives 28 offers worth €922.8m to cover local euro-denominated T-bills issuance
The Central Bank of Egypt (CBE) received 28 offers worth €922.8m to cover an issuance of local treasury bills denominated in the European currency. CBE launched a tender worth €600m on Monday, on behalf of the Ministry of Finance,
United Bank to offer 30% on EGX in Q4
United Bank will offer 30% of its shares on the Egyptian Exchange (EGX) during the last quarter of this year. According to a statement issued by the bank on Monday, CI Capital has been appointed to promote and cover