Egypt’s central bank plans United Bank stake sale within H1-2020: governor

Cairo: Egypt’s Central Bank Governor Tarek Amer said on Wednesday he expects the deal to sell a stake in the United Bank to complete within the first half of 2020.

United Bank, owned by the central bank,"...

Bank Audi Egypt targets SMEs portfolio of EGP 5bn by 2019 end: managing director

Bank Audi Egypt aims to increase its small and medium-sized enterprises (SMEs) loan portfolio to EGP 5bn by the end of 2019, in line with the Central Bank of Egypt’s (CBE) SMEs initiative, Mohamed Bedeir, managing director of Bank Audi Egypt, told Daily News Egypt.

Bank"...

GCR grants rating upgrade to Afreximbank

Global Credit Rating (GCR) has announced an upgrade of the African Export-Import Bank's (Afreximbank) long-term international scale rating from BBB + to A-. GCR also affirmed the Bank's short-term rating at A2 and the outlook as stable.

In"...

Citi Private Bank Issues Outlook 2020: Global Growth Can Endure Over the Coming Year

Citi Private Bank today released its Outlook report for 2020, titled, “Staying Positive in a Negative (Yielding) World.” The twice-yearly publication provides in-depth insights into the global economy and financial markets for the coming year, and highlights important multi-year"...

Egyptian Arab Land Bank appoints Medhat Kamar as chairperson

Prime Minister Mostafa Madbouly issued a decree appointing Medhat Kamar as the Chairperson of the Egyptian Arab Land Bank for the remaining term of the board until September 2020, based on the nomination of Tarek Amer, governor of the Central Bank of Egypt.

Kamar"...

Central Bank of Egypt launches electronic platform for collection of mortgage installments

The Central Bank of Egypt (CBE), in cooperation with the Social Housing Fund has launched an initiative to collect the installments of mortgage and home loans electronically with the partnership of mortgage lenders.

According"...

US EXIM Bank likely to triple future funds to Egypt reaching $6bn

The Export–Import Bank of the United States (US EXIM Bank) is expected to triple its pipeline projects in Egypt to reach $6bn in the next years.

Judith Pryor, member of the board of US EXIM Bank, said that"...

Five banks to begin collecting mortgage finance instalments electronically amid CBE initiative

Five public and private banks will begin collecting mortgage finance instalments electronically under the Central Bank of Egypt’s (CBE) mortgage initiative on Sunday.

Last week, the CBE and the Mortgage"...

ITFC and Afreximbank sign $100m credit facility

The International Islamic Trade Finance Corporation (ITFC) in Egypt’s New Capital City has signed an agreement to provide a $100-million credit facility to the African Export-Import Bank (Afreximbank) to promote Arab-Africa trade and investments.

The"...

EBRD steps up support for greener oil and gas sector in Egypt with $50 million loan

The European Bank for Reconstruction and Development (EBRD) has supported the modernisation of Egypt’s oil industry with a US$ 50 million loan to upgrade the oil refinery owned by Suez Oil Processing Company (SOPC).

The"...