CIB completes EGP 1.56bn securitization deal for B.TECH, serving as financial advisor, arranger, and manager
The Commercial International Bank (CIB) Egypt has successfully concluded the fourth securitization deal for B.TECH, valued at EGP 1.5605bn. CIB acted as the financial advisor, arranger, manager, and promoter for the transaction, which is part of a two-year securitization Programme
CBE reveals developments in Egypt’s external debt as of June 2024
Egypt’s external debt reached $152.9bn in June 2024, marking a decrease of approximately $11.8bn (7.2%) compared to June 2023. This decline resulted from several factors, including the conversion of around $11bn in UAE deposits at the CBE into investments for
CIB completes EGP 1.82bn securitization transaction for GB Leasing
The Commercial International Bank (CIB) Egypt has successfully completed its ninth securitization transaction for GB Leasing, valued at EGP 1.82bn. This marks a significant milestone in the company’s ongoing three-year securitization bond issuance program, which totals EGP 15bn. In collaboration
Banque Misr, Suez Canal Bank, and Al Baraka alliance secures $108m financing for MAFI
A banking alliance led by Banque Misr, alongside Suez Canal Bank and Al Baraka Bank–Egypt, has successfully secured long-term joint financing of $108m for MAFI for Agricultural Produce Industries. This funding will cover a portion of the estimated $180m investment
Agricultural Bank of Egypt, Elsewedy Watanya sign cooperation protocol to finance modern irrigation solutions
The Agricultural Bank of Egypt (ABE) has signed a cooperation protocol with Elsewedy Watanya for Industrial and Engineering Projects, under the auspices of the Ministry of Agriculture and Land Reclamation. The agreement is designed to provide essential financing to farmers
CBE issues guide to identify true bank customer beneficiaries
The Central Bank of Egypt (CBE), in cooperation with the Egyptian Money Laundering and Terrorist Financing Combating Unit (EMLCU), has issued a guide to help banks identify the true beneficiaries of their customers, addressing various methods used to conceal their
Financial soundness indicators highlight resilience of Egypt’s banking sector: CBE
The Central Bank of Egypt (CBE) has confirmed that the latest Financial Soundness Indicators (FSIs) reflect the resilience and robustness of the country’s banking sector, which continues to serve as a crucial pillar for achieving economic, financial, and monetary stability.
Local liquidity in Egypt’s banking sector increases by EGP 2.46trn in 11M 2024
Egypt’s banking sector saw a significant increase in local liquidity, rising to EGP 11.34trn in November 2024, a boost of EGP 2.46trn from the EGP 8.88trn recorded in December 2023. The Central Bank of Egypt (CBE) reported that the money
Egypt’s banking sector records $5.95bn net foreign asset surplus in November 2024
The Central Bank of Egypt (CBE) announced that the banking sector’s net foreign assets (NFA) reached a surplus of $5.95bn (EGP 295.6bn) in November 2024, down from a surplus of $9.2bn (EGP 450.861bn) in October 2024. This marks a continued
ADIB opens 72nd branch at Mall of Egypt
Abu Dhabi Islamic Bank – Egypt (ADIB) has opened its 72nd branch inside Mall of Egypt, further expanding its network across Egypt. This new branch is part of the bank’s comprehensive strategy for growth and development, aimed at offering integrated