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Egypt’s state banks sell EGP 92 bn of high-yield certificates
The National Bank of Egypt has sold EGP 62 bn of its 15% fixed-rate certificates to some 340k customers, Chairman…
Banking
Beltone Financial sells US-based brokerage Auerbach Grayson
M&A WATCH- Beltone Financial sells US subsidiary Auerbach Grayson: Beltone Financial Holding has completed the sale of its 60% stake…
CIB acquires 51% of Kenya’s Mayfair bank
M&A WATCH- CIB acquires majority stake in Kenyan bank as it continues its expansion outside Egypt: CIB has purchased a…
Egyptian banks' profits jumped by 18% to EGP 83.1 bn by the end of 2019
Egyptian banks' net profits jumped 18% y-o-y to EGP 83.1 bn by the end of 2019, theCentral Bank of Egypt…
Raya aims to reissue EGP 700 mn in securitized bonds
DEBT WATCH- Raya looks to re-issue asset-backed securities with lower interest following CBE cuts: Raya Holding is looking to recover…
Egyptian economy to grow 3.5% in FY2020-2021 –Reuters poll
Egyptian economy to grow 3.5% in FY2020-2021 –Reuters poll: Egypt’s economy will grow at a 3.5% clip in FY2020-2021, down…
What we’re tracking on 23 April 2020
Ramadan Kareem, everybody. Dar Al Iftaa confirmed last night that Friday is the first day of the holy month, meaning…
Egypt’s remittances rise 33% y-o-y in January and February
Remittances from Egyptians abroad for January and February rose by a third y-o-y to USD 5.2 bn, up from USD…
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