Day: December 18, 2023

The Central Bank of Egypt (CBE) announced that banks operating in the Egyptian market achieved net profits of approximately EGP 212.582bn in the first 9 months of 2023 (9M 2023). According to the CBE’s report released on Monday, banks’ net revenue reached EGP 411.905bn at the end of September 2023,…

B.TECH, Egypt’s leading integrated omnichannel retailer and consumer finance platform, and the Commercial International Bank (CIB), announced the completion of the second securitization bond issuance worth close to EGP 1 billion. The issuance was split into two different tranches with varying tenors, payment priorities, credit ratings, and interest rates. This…

The term for the high-yield certificates of deposits from the National Bank of Egypt and Banque Misr offered this January will expire on January 2024 at an interest rate of 22.5 percent for a monthly exchange period and 25 percent at the end of the specified period of one year…

With the whole world focusing on the alerting signs of climate change, trying to figure out solutions to the catastrophic consequences of the cooking globe, the technology leading cooperation, Intel, couldn’t slip an eye on its responsibilities towards the greenery planet; leading a long, difficult, carved with obstacles road to…

Banks operating in Egypt on Sunday resumed collecting fees on opening accounts (current or savings), adhering to the minimum account balance, for new customers after the end of the “People of Determination” event, one of the Central Bank of Egypt’s activities within the financial inclusion initiative.   What are the…

IGI Developments, a leading real estate company in Egypt, announced a new urban project in the new Sphinx City. The project covers 540 feddan and was revealed by Managing Director Sherif Moustafa at the Nile Property Expo in Riyadh, Saudi Arabia. The company also showcased its portfolio of projects, including…

The current year has seen a remarkable surge in real estate prices in Egypt, especially in new cities. According to real estate developers, consultants, and marketers, prices have risen by more than 100%. They cite various factors for this increase, such as the depreciation of the local currency and the…

Mountain View has announced that it has sold more than EGP 32bn worth of units in the first phase of ALIVA, its latest project in Mostakbal City, within a few days of its launch. This is the company’s largest sales record for any phase of its projects. One of the…

Abu Dhabi Commercial Bank Egypt (ADCB) has announced the appointment of Ahmed Adel Mansour as the Head of Digital Transformation and Banking Services Development, as part of its new phase that coincides with the launch of its five-year strategy until 2028. The strategy aims to create a qualitative shift in…

Egytrans, a leading Egyptian logistics and transport provider, and Links Investment, a prominent Saudi-based investment firm, have agreed to establish a joint venture in the Kingdom of Saudi Arabia (KSA). The new limited liability company (LLC) will have a total capital of 10,000,000 SR, with both partners holding an equal…