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
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MSMEDA partners with banks to offer Islamic financing for small enterprises: CEO
Basel Rahmy, CEO of Egypt’s Micro, Small, and Medium Enterprises Development Agency (MSMEDA), announced Monday that the agency partnered with several banks to provide Islamic financing solutions for small enterprises. These banks include Faisal Islamic Bank of Egypt, United Bank,