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Earnings watch: Eastern Company + CIB to move forward with capital increase
EARNINGS WATCH- Eastern Company’s net income after tax dropped 6% y-o-y to EGP 4.0 bn in FY 2021-2022, according to…
CIB acquires stakes in Elsewedy subsidiaries
Egypt’s largest private sector bank CIB has acquired a 15% stake in El Sewedy Engineering Industries (SEI) through a capital…
CIB plans record capital increase
EGX-listed private sector giant CIB is planning a multi-bn EGP capital increase that would raise its capital by around a…
CIB spinning up mortgage - factoring unit
CIB now has a mortgage finance + factoring arm: CIB has established Commercial International Finance after obtaining initial approval from…
CIB net income rises 9% in 2Q 2022
CIB’s net income rose 9% y-o-y to EGP 3.5 bn in 2Q 2022 as demand for short-term credit picked up,…
O West locks in financing worth EGP 1.5 bn to fast-track construction
O West lands EGP 1.5 bn in funding from CIB: Orascom Development Egypt (ODE) subsidiary Orascom for Real Estate (ORE)…
Euromoney awards for HSBC, EFG Hermes and CIB
EFG Hermes, HSBC and CIB walked away with awards from the 2022 Euromoney Awards for Excellence last week. HSBC was…
Tasaheel securitizes USD 150 mn of its loan book
MNT-Halan’s microfinance subsidiary Tasaheel has closed a USD 150 mn (c.EGP 2.8 bn) securitized bond issuance as part of a…
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