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The National Bank of Egypt (NBE) is leading an alliance of banks working in the Egyptian market to arrange an increase in financing for Oilex, an Egypt-based international company for the extraction of multiple forms of oils.
Banking act may spur a wave of consolidation amongst smaller or undercapitalised banks
Financial statements of 10 banks reflect significant growth in profits by end of June 2018 YOY
Foreign currency loans account for 25% of loans, while deposits in foreign currency represent 18% of sheer deposits