Egyptian banks report record profits of EGP 534.8bn in 2024
Banks operating in the Egyptian market recorded net profits of EGP 534.8bn in 2024, compared to EGP 283.4bn at the end of 2023, the Central Bank of Egypt (CBE) revealed on Wednesday. The CBE’s report also indicated that the total
Bank of Tanzania delegation visits CBE to gain insights into Egypt’s pioneering cybersecurity model
As part of Egypt’s commitment to strengthening cooperation with African nations, the Central Bank of Egypt (CBE) hosted a technical delegation from the Bank of Tanzania (BoT) specializing in cybersecurity. The visit focused on Egypt’s pioneering cybersecurity experience in the
CIB’s Hisham Ezz Al-Arab receives Global Finance Lifetime Achievement Award
Global Finance has awarded Hisham Ezz Al-Arab, Chairperson and CEO of Egypt’s Commercial International Bank (CIB), its Lifetime Achievement Award. The award is the publication’s highest individual honour. Joseph D. Giarraputo, Founder and Editorial Director of Global Finance, said Ezz
Banque Misr grants EGP 2.6bn credit facility to Hyde Park for ‘Sea Shore’ project
Banque Misr has signed a credit facility agreement with Hyde Park Developments, providing EGP 2.6bn in financing to support the investment costs of the Sea Shore project on Egypt’s North Coast. The signing ceremony was attended by Hisham Okasha, CEO
Islamic banking in Egypt increases to EGP 1.14trn in 2024
The Islamic banking sector in Egypt reached EGP 1.14trn in 2024, representing approximately 5% of the total banking market, according to Mohamed El-Beltagy, Chairperson of the Egyptian Islamic Finance Association (EIFA). This marks an increase of EGP 412bn compared to
CIB, Kenya Bankers Association launch 3rd Credit Analysis Programme for university graduates
Commercial International Bank – Egypt (CIB) and Kenya Bankers Association (KBA) have announced the launch of the third edition of the Credit Analysis Programme in East Africa. This initiative is designed to equip university graduates with essential credit assessment and
Private banks in Egypt achieve record profits in 2024
Private banks operating in the Egyptian market recorded unprecedented profits in 2024, driven by substantial growth in interest income and operating revenues. Commercial International Bank Commercial International Bank (CIB) led the sector with net profits reaching EGP 55.427bn by December
CBE hosts Bank of Tanzania delegation to strengthen African financial cooperation
As part of Egypt’s commitment to deepening ties with African nations, the Central Bank of Egypt (CBE) has welcomed a high-level delegation from the Bank of Tanzania (BOT), led by its Deputy Governor. The visit aligns with the joint cooperation
CIB successfully closes EGP 7bn Sukuk issuance for “Tasaheel”
The Commercial International Bank (CIB) has successfully completed an EGP 7bn non-sovereign Sukuk issuance for “Tasaheel” for Finance, through Alkan Securities. It is the first non-sovereign issuance of its kind. The issuance is the largest of its kind in Africa
Egypt’s banking sector expands sustainable finance initiatives
Egypt’s banking sector, under the leadership of the Central Bank of Egypt (CBE), is intensifying its commitment to sustainable finance, playing a pivotal role in achieving the country’s Sustainable Development Goals (SDGs) and Vision 2030. Banks across the nation are