Saib reports EGP 1.74bn net profits in December 2024, achieving 81% growth
Saib bank concluded 2024 with an exceptional 81% surge in net profits, reaching EGP 1.74bn compared to EGP 963m in 2023. Pre-tax profits also experienced a robust 60% increase, rising to EGP 2.54bn from EGP 1.58bn the previous year. Net
HDB doubles net profits to EGP 11bn in 2024, marking 83.1% surge
The Housing and Development Bank (HDB) has reported a substantial increase in pre-tax and provisioned profits, reaching EGP 16.855bn in 2024, compared to EGP 9.444bn in 2023. This marks a rise of EGP 7.411bn or 78.5%. Net profits after tax
CIB reports full-year 2024 consolidated net income of EGP 55.2bn, up 86% YoY
Commercial International Bank (CIB) today announced its fourth-quarter 2024 consolidated net income of EGP 12.8bn, reflecting a 78% increase from the same period in 2023. Full-year 2024 consolidated net income reached EGP 55.2bn, or EGP 16.4 per share, marking an
Egypt’s foreign exchange earnings surge to $159.6bn in 2023/2024
Egypt’s foreign exchange earnings reached $159.6bn in the 2023/2024 fiscal year, marking a 30.8% increase from the $121.9bn reported in 2022/2023, according to data from the Central Agency for Public Mobilization and Statistics (CAPMAS). This growth was largely driven by
Egypt’s net foreign asset surplus reaches $11.99bn in January 2025
The Central Bank of Egypt (CBE) recorded a net foreign asset (NFA) surplus of $11.99bn (EGP 603.06bn) in January 2025, up from $11.64bn (EGP 592.47bn) in December 2024. Net foreign assets, which represent the difference between the CBE’s foreign currency
CIB outlines a 13-goal strategy for the next 50 Years
After fifty years in the Egyptian market, the Commercial International Bank (CIB) is aiming to solidify its position as a leading banking institution both in Egypt and the broader region with a comprehensive strategy built on innovation, sustainability, and a
Arkan Palm, CIB partner to develop 16,000 sqm headquarters in Sheikh Zayed’s Financial District
Arkan Palm for Real Estate Development, a subsidiary of Badr El Din Group, has signed an agreement with Commercial International Bank (CIB) to allocate 16,000 square meters in the Financial District of Project 205 in Sheikh Zayed for the bank’s
CIB signs EGP 1.8bn financing agreement with CRC for Solana project in New Zayed
Commercial International Bank (CIB), Egypt’s leading private-sector bank, has signed a financing agreement with Construction and Reconstruction Engineering Co. (CRC), a Class A certified general contractor affiliated with Dorra Group, to fund the construction of the upcoming Solana project in
Foreign asset surplus in Egypt’s banking sector reaches $5.2bn in 2024
The Central Bank of Egypt (CBE) reported that the net foreign assets of the Egyptian banking sector recorded a surplus of $5.224bn (EGP 265.898bn) in December 2024, down from $5.95bn (EGP 295.6bn) in November. According to the CBE’s latest report,
CBE hosts Financial Stability Board’s RCG MENA Meeting in Sharm El-Sheikh
The Central Bank of Egypt (CBE), co-chair of the Regional Consultative Group for the Middle East and North Africa (RCG MENA), hosted the Financial Stability Board’s (FSB) RCG MENA Meeting in Sharm El-Sheikh on January 29-30, 2025. The event was