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Banque Misr looking to borrow USD 600 mn from international institutions
Banque Misr is in negotiations to secure USD 600 mn in funding, Chairman Mohamed Eletreby told Al Mal. Eletreby says…
Banking
Union National Bank to expand in Egypt, open branch in China
Union National Bank, which is 50% owned by the Abu Dhabi government, plans to expand "aggressively" in Egypt by opening…
Banks to notify CBE before sourcing foreign currency to gov’t entities
The central bank has sent a directive to all banks requiring them to notify it every time they are tasked…
CBE issues amendments to SME’s lending initiative
The Central Bank of Egypt issued amendments to its EGP 200 bn SMEs lending initiative, allowing renewable energy companies established…
State-owned banks to cover SAR needs for umrah -CBE
National Bank of Egypt, Banque Misr, and Banque du Caire have reached an agreement with the head of the tourism…
NBE says it will net almost EGP 12.5 bn in FY2016-17
National Bank of Egypt (NBE) expects to match its profit levels of EGP 12.5 bn recorded in FY2015-16 after making…
Mubasher and QNB Alahli sign agreement that allows bank clients to open brokerage accounts
Mubasher Financial Services signed an agreement with QNB Alahli that will allow clients to open brokerage accounts at any of…
NBE board approves EGP 30 bn capital increase
The National Bank of Egypt’s board of directors approved a EGP 30 bn capital increase to EGP 50 bn, funded…
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