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Fawry’s bottom line nearly quadruples in 1H 2023; Ibnsina reports rise in earnings
Fawry’s banking services segment drove revenue growth, sales at Ibnsina were up on price hikes
EFG Holding net income rises 20% y-o-y in 2Q 2023
The group’s investment banking, commercial banking and non-bank financial services arms all reported revenue growth
What the pundits are saying about our economy this morning, from expectations of devaluation to a possible Moody’s downgrade
Moody’s is watching the reform program closely, while Citigroup is turning bearish on our USD bonds
Inflation hits new record high in July, but cools slightly month-on-month
Food prices were almost 70% higher compared with a year ago
Bad times for US banks
The US banking system hasn’t yet recovered from this spring’s liquidity crisis
Kharafi National borrows EGP 1.65 bn to expand in the local market
ADI Capital was the financial advisor on the loan
Heliopolis Housing appoints new CEO, MD
Sameh Hammouda succeeds Tamer Nasser at the real estate firm
Reefy Microfinance issues EGP 700 mn in securitized bonds
The issuance was the first in a three-year, EGP 3 bn program
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