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EGPC borrows USD 500 mn from Afrexim, NBE to finance crude imports
The Egyptian General Petroleum Corporation (EGPC) will borrow USD 500 mn from the African Export-Import Bank (Afrexim) and the National…
BANKING + FINANCE
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BANKING + FINANCE
Arab African Bank grants EGP 200 mn in credit facilities to Premium Int’l
The Arab African Bank granted credit facilities worth EGP 200 mn to PremiumInternational for Credit Services to develop the company’s…
Palm Hills negotiates EGP 500 mn loan to refinance debts
Palm Hills Developments (PHD) is negotiating with Ahli United Bank to obtain a loan of EGP 500 mn in order…
Bank Audi signs cooperation protocol to be exclusive banker for Egypt’s SWF
Bank Audi Egypt has signed a cooperation protocol with the Sovereign Fund of Egypt that could see it provide all…
Sarwa Capital changes the names of two of their subsidiaries
Consumer and structured finance player Sarwa Capital is changing the commercial name of its 99.99%-owned subsidiary Plus Leasing to Contact…
Saudi Arabian Monetary Authority to grant IDB USD 15 mn
The Saudi Arabian Monetary Authority has agreed to provide a grant of USD 15 mn to the Industrial Development Bank…
Central Bank of Egypt approves Misr Iran Bank’s rebranding as MIDBank
The Central Bank of Egypt has approved a request from Misr Iran Development Bank to rebrand as MIDBank, an unnamed…
EFG’s ValU to expand to four cities in 2020, add Arabic to its mobile app
EFG Hermes’ installment payment solutions app ValU is planning to gradually expand to Alexandria, Mansoura, Tanta, and Hurgada in 2020,…
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