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USD 1 bn for expansion at CIB, the wind-down of CVentures, and pharma goods stuck in port?
BANKING- CIB could raise USD 1 bn for expansion: CIB is seeking regulatory approval to issue financial instruments worth up…
CIB net income up 17% in 4Q 2022
CIB’s net income rose 17% y–o-y to EGP 3.95 bn in 4Q 2022, according to its latest earnings release (pdf).…
Moody’s downgrades five banks’ deposit ratings on sovereign credit risk
Moody’s has downgraded the long-term deposit ratings of five Egyptian banks on the back of its downgrade last week of…
CIB and Kenya’s Mayfair Bank are now one
CIB now owns all of Kenya’s Mayfair: EGX mainstay CIB will acquire 49% of Mayfair CIB for USD 40 mn,…
THIS EVENING: CIB gets central banks’ blessing to complete Mayfair acquisition + Take our 2022 Enterprise Reader Survey
Good afternoon, wonderful people. We’re now in the throes of that dreaded two-month stretch without any holidays or long weekends…
It’s sayonara to high-yield CDs at the end of the month
Banque Misr and the National Bank of Egypt are pulling their one-year, 25% certificates of deposit after the end of…
BTECH kicks off EGP 5 bn securitization program
BTECH has closed an EGP 1.038 bn securitized bond issuance, according to a jointstatement (pdf) from BTECH and CIB, which…
GB Lease issues EGP 1.7 bn in securitized bonds
GB Auto subsidiary GB Lease has closed an EGP 1.7 bn securitized bond issuance, according to a joint statement (pdf)…
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