Egypt, China sign 3 MoUs to expand digital payments, local currency use
Egypt and China are advancing financial and digital ties as their central bank governors witnessed the signing of…
Browsing Tag
Suez Canal Bank
Suez Canal Bank posts net profit of EGP 2.3b in ’23
Egypt’s Suez Canal Bank reported on Thursday a net profit worth 2.3 billion Egyptian pounds ($74.2 million) for…
Egypt’s SCZone aims to borrow EGP 30bn for green hydrogen projects – sources
The General Authority of Suez Canal Economic Zone (SCZone) seeks to lend 30 billion Egyptian pounds from a…
IMF new loan a certificate of trust: to Egypt’s economy: Suez Canal Bank chairman
The International Monetary Fund’s (IMF) executive board approval for a new loan agreement is a certificate of trust…
GIG Egypt insurance submits $238 million offer to buy AIG
Egypt’s Gulf Insurance Company (gig-Egypt) has submitted a compulsory purchase offer on the shares of AIG Egypt…
Suez Canal Bank H1 net profit surges 8%
Egypt’s Suez Canal Bank reported on Sunday an 8 percent year-on-year growth in its net profit for the first half of…
Four Egyptian banks back SODIC unit’s first securitisation bond issuance
A banking consortium has supported SODIC’s latest securitisation bond programme with a total investment of 343…
Egypt’s SODIC unit closes its first EGP 343 million securitisation bond issuance
Egypt’s property developer SODIC announced on Tuesday that it had closed its first securitisation bond issuance…
Egypt’s sovereign funds, banks, investors to set up new education investment platform
An alliance of the Sovereign Fund of Egypt (TSFE), Banque Misr, Suez Canal Bank, Misr Insurance Holding, and a…
Egyptian Electricity Transmission Company in talks with banks over EGP4 billion loan
State-run Egyptian Electricity Transmission Company (EETC) is in talks with a consortium of banks for a loan worth…
Suez Canal Bank: Net profit surges 11% in 2020
Egypt’s Suez Canal Bank reported on Monday an 11 percent year-on-year increase in its net profit after tax to…
Egypt’s City Edge, Suez Canal Bank clinches mortgage finance deal
Egypt's City Edge Developments and Suez Canal Bank have signed a cooperation protocol to support the government’s…
Suez Canal Bank to launch EGP 250 mln money market fund by mid-July
Egypt's Suez Canal Bank plans to launch its first money market fund with 250 million Egyptian pounds ($15.5…
Suez Canal Bank’s profit down 11% in Q1
The Suez Canal Bank posted an 11 percent year-on-year (YoY) decline in its net profits during the first quarter of…
Suez Canal Bank 9-month net profit grows 10% y-o-y
Egypt’s Suez Canal Bank reported on Wednesday a 10 percent year-on-year growth in net profit for the first nine…
Suez Canal Bank injects $47.8mn into syndicated loans in Q1 – source
Egypt’s state-run Suez Canal Bank pumped 800 million Egyptian pounds ($47.8 million) into a number of syndicated…
Suez Canal Bank’s financial position increases by 13.3 in Sep. 2018
Suez Canal Bank announced that its financial position has reached 43 billion Egyptian pounds in September 2018 with…
Saudi Arabia’s Alhokair fully pays off Egypt mall loan
Marakez, a subsidiary of Saudi mall developer Fawaz Alhokair, has fully paid off a 2 billion Egyptian pound ($111.7…
Saudi Arabia’s Alhokair seeks early repayment for Egypt mall loan
Marakez, a subsidiary of Saudi Fawaz Alhokair Group, is in talks with seven banks on paying off around 1.6 billion…
Four banks team up to finance Zizinia El Mostakbal with 568mln pounds
A consortium of four banks including the National Bank of Egypt (NBE), Suez Canal Bank, and the Egyptian Arab Land…
State-owned Suez Canal Bank’s net profit rises 69.5% in 2017
Egypt's state-run Suez Canal Bank reported Monday a 69.5 percent increase in its net profit to reach 356 million…
Dollar exchange rate sees slight hike in Egyptian banks
U.S. dollar prices against the Egyptian pound increased in several Egyptian banks on Sunday. According to the…
Suez Canal Bank profits up to 301.4mn pounds in nine months
Egyptian Suez Canal Bank’s profits rose to 301.4 million Egyptian pounds ($56,575) during the first nine months…
Suez Canal Bank has provided $300 mln to fund trade since currency float
Egypt’s Suez Canal Bank has provided around 300 million to fund trade since the country floated its currency in…
Suez Canal Bank targets 400 mln pounds in SME financing at year-end
Egypt’s Suez Canal Bank is seeking to increase funding for the country’s small and medium-sized businesses to reach…
Suez Canal Bank appoints Hussein Refaie as new chair
Egypt’s Suez Canal Bank has appointed Hussein Refaie, chief financial officer at the country’s biggest public…
Egypt’s Suez Canal Bank elects new board
The general assembly of Egypt’s Suez Canal Bank has elected on Sunday a new board of directors for a three-year…
Egypt pound vs dollar in interbank trade at 18 banks
US dollar traded to an average of 15 for buying and 15.65 for selling to Egyptian pound in interbank dealings on…
Dollar further fell against Egypt pound at early interbank trade
Dollar trade further dropped to an average below of 14 level for buying and below 16 for selling to Egyptian pound…
Dollar slips against Egypt pound at early interbank trade after IMF loan approval
Dollar trade fell to an average below of 16 level to Egyptian pound in four banks during early interbank dealings…
Dollar calms against Egypt pound following IMF $12 billion bailout approval
US dollar trade calmed significantly against Egyptian pound in 19 banks during interbank dealings in Egypt on…
Dollar stablises against Egypt pound at interbank trade
Dollar stablised against Egyptian pounds in 19 banks during interbank dealings on Thursday. For the biggest banks…
Dollar rises against Egypt pound in 7 banks at early interbank trade
Dollar edged higher against Egyptian pound in seven banks in early interbank dealings on Tuesday. The seven banks…
UPDATE: Egypt pound vs dollar in 20 banks at post-free floating trade
Dollar has continued its rise against Egyptian pound during interbank dealings on Monday. Pound was quoted at 17.5…
Dollar climbs against Egypt pound in 11 banks at early post-free floating trade
Dollar has surged against Egyptian pound in 11 banks in early interbank dealings on Monday.The 11 banks are Banque…
As post-free float trading begins, get to know dollar prices in 16 Egypt banks
Egyptian banks start trading currency on Sunday without central bank restrictions for the first time after policy…
Egypt’s HC Securities says plans 20% rise in AUM this year
Egyptian investment bank HC Securities and Investment is planning this year to boost its assets under management…
Egyptian Arab Land Bank Sees Highest Debt Settlement Rate by June-end
The Egyptian Arab Land Bank is expected to set a record by end of the current fiscal year on the rate of debt…
Egyptian Arab Land Bank Settles Debts worth EGP400mn in Q1
Chairman of Egyptian Arab Land Bank (EALB) Chairman Abdel Meguid Mohy El-Din said his bank succeeded to…
Naguib Sawiris Invests EGP100 million in New Suez Canal Project
Egyptian business tycoon Naguib Sawiris purchased Sunday EGP 100 million (around US$14 million) worth of investment…