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CIB to borrow USD 150 mn from EBRD
The funds will strengthen the bank’s Tier II capital
EgyptAir places big Airbus order. PLUS: News from SODIC, Afreximbank, Hayat, Cleopatra Group
AVIATION- EgyptAir has placed another big order for new aircraft. National flag carrier EgyptAir has placed an order for 10…
Fitch cuts bank credit ratings following sovereign downgrade
Fitch, S&P and Moody’s have all downgraded Egypt’s sovereign rating over the past month due to rising debt concerns
CIB + Juhayna earnings jump in 3Q, 9M 2023
CIB saw its net income jump 89% y-o-y in 3Q 2023, while Juhayna’s net income more than doubled
S&P cuts three local banks credit rating days after downgrading sovereign rating
The rating agency cut Egypt’s sovereign credit rating deeper into junk last week due to the increasing FX shortage and…
Amr El Ganainy named deputy CEO and managing director at CIB
El Ganainy previously headed up CIB’s institutional banking division
Four banks could receive EBRD loans to fund SMEs, green projects
The financing could be made available before the end of the year, according to a senior figure at the EBRD
It was expected: Moody’s downgrades credit rating of five local banks
The move follows the agency’s decision to downgrade Egypt’s sovereign credit rating to Caa1 last week
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