BANKING

04 Aug 2015

EBRD, QNB AlAhli set $100m to support SMEs in Egypt

The European Bank for Reconstruction and Development (EBRD) announced Monday it is partnering with Egypt’s fourth largest commercial bank QNB AlAhli to step up its support for small businesses in Egypt with a US$100 million credit.


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03 Aug 2015

Central Bank of Egypt announces drop in inflation rate

The Central Bank of Egypt (CBE) announced that, this year, the annual inflation rate has dropped to 11.39 per cent in June 2015 compared with 13.11 per cent in May, supported by a drop in fresh vegetable prices and despite the increase of the prices of some other food commodities.

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03 Aug 2015

Credit Agricole Egypt H1 Net Profits rise by 55.7%

Credit Agricole-Egypt's net profits registered an increase of 55.7% within the first half of 2015, bank's business results showed.


The results stated that the net profits recorded 482.99 million Egyptian pounds (US$ 39.5 million) in the first half of 2015 versus 310.22 million Egyptian pounds at the same period"......

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01 Aug 2015

Egypt’s CB keeps benchmark interest rates unchanged

Egypt’s central bank (CB) kept its benchmark interest rates unchanged at a monetary policy committee meeting late on Thursday.

The overnight deposit rate remained 8.75 per cent and the overnight lending rate was steady at 9.75.

The key CBE rates “are currently appropriate” considering the balance of risks that include both inflation...

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