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Returns on some savings certificates and loans automatically dropped by 0.5% after corridor price falls
The facility, which comes with a seven-year term, is eligible for issue under the umbrella of the Central Bank of Egypt (CBE) initiative granting loans with an interest rate of 8%.
Complete inventory is being undertaken of clients benefiting from CBE loan deferral initiative
Each bank must conduct careful review of existing credit facilities, and their customers’ future cash flows, to determine appropriate measures in this matter
Project will add 200 MW of renewable energy to national electricity grid capacity
Lily Albino Akol, South Sudan deputy minister of agriculture and food security, said Afreximbank loan will be used to procure necessary supplies
Bank grants finance to strengthen agribusiness value chain, trade across Eastern Mediterranean, Eastern Europe, and Black Sea regions
Haram Tourism Transport completes largest operational lease contract in Egypt for over 600 vehicles
Proceeds of proposed loan will be on-lent to local SMEs, corporates
Loan to finance 50% of total estimated investment cost of Mall of Katameya’s second phase
The plant is to be located in the Gulf of Suez, approximately 40 km north-west of Ras Ghareb.
WAM reported, on Wednesday, that the loan agreement was signed last week, and aims to support reform efforts and measures taken to help limit the economic and financial repercussions of the global pandemic.
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.