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IFC’s commitments in Egypt since 2005 has reached $4bn
Loan forms part of executive management plans to strengthen CIB’s capital base, in preparation for expected economic recovery
Project’s implementation is likely to start in 4Q 2020
Project aims to establish integrated industrial city that includes furniture manufacturers and specialists
The benchmark index EGX30 closed at 11,108 points, while the EGX70 EWI rose 3.09% to 1,259 points, and the EGX100 EWI rose 3.31% to 2,028 points.
Egypt’s foreign reserves fall to $36.0037bn in May, from $37.037bn in April, says CBE
Market’s confidence in bank, despite current uncertainty, was testament to strength of Afreximbank’s investor relationships
Joint loan’s arrangement reflects participating banks’ support for real estate sector
Fayed also emphasised that Banque du Caire’s keenness to boost and diversify its foreign currency funding resources is directed at financing SMEs, which are a cornerstone in economic growth and sustainable development.
EBRD ready to dedicate €21bn over 2020/2021 to combat economic impacts of coronavirus crisis
Company aims for EGP 3bn in revenues in 2020, says Al-Hatimi
In March, the CBE issued regulations due to the coronavirus oubtreak allowing borrowers to defer paying instalments on bank loans for a period of six months.
saib acted as bookrunner and agent of the deal, while the National Bank of Egypt participated as a bookrunner and financing promoter, and the Suez Canal Bank also served as bookrunner.
Bank concludes 6 financing deals of total EGP 15.4bn
Drive securitises EGP 425m bonds, and will resume collecting postponed instalments from September
Agency to pump new funds for activities currently booming due to spread of coronavirus
Banks reveal initiative details initiative, microloans in trouble
Vice Chairperson and CEO of NSB Sharif Farouk denied what was reported about the bank not adhering to the CBE instructions due to his affiliation to the Ministry of Social Solidarity, noting that the bank coordinates with the CBE in this regard.
Initiative includes clients of financial leasing, real estate, factories , SMEs, personal loans, car loans, credit cards
Holding WEF in Egypt while other countries cancel their international activities sends great message about economic situation in country: Maya Morsi
Growth of the real estate sector contributes to the continuous improvement of economic indicators: deputy governor
20% of the total cost of implementing a housing compound project in the beach area of New Alamein City
CIB, QNB, Credit Agricole, and ADIB are the main beneficiaries of the decision
The loan will finance inventory needed to operate ESISCO production lines
Ethiopia’s loan programme to address same challenges Egypt faced before November 2016
Banque Misr’s portfolio of SMEs reaches EGP 26bn by the end of September 2019
This step reflects the bank’s efforts in supporting the Egyptian economy, says Azab
The facility will be used to finance Mall of Arabia’s new development plans, including the development of Cairo’s first in-mall IKEA store in western Cairo with a gross leasable area of 22,000 sqm.
Talal Abu-Ghazaleh Organisation will complete the company’s restructuring in December: Source
Bank pumped EGP 19bn to about 900,000 SMEs