Inspiring Leadership & Sustainable Business Transformation in Africa
EGYPT – State-owned Bank Misr has carried out an ownership transfer transaction for fellow state-owned Banque du Caire in a deal valued at EGP 6.9 billion (US$ 373.37 million). The deal was executed through BLOCK TRADING transaction, through which Bank Misr purchased 1.125 billion shares of Banque du Caire, according to EGX. According to the statement, the share that Banque…
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EGYPT – Egypt’s largest national banks; Banque Misr, National Bank of Egypt, and Banque du Caire, have partnered with Global Ventures to launch fintech-focused investment fund Nclude, following approval by the Central Bank of Egypt. The fund is an implementation of the country’s strategic vision to support young innovators, with Nclude by Global Ventures to focus on accelerating fintech innovation…
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EGYPT – The African Export-Import Bank (Afreximbank) and Banque du Caire have signed an agreement that will formalise Afreximbank’s US$200 million Intra-African Investment Finance Facility. The facility is designed to finance Banque du Caire’s expansion across Africa, and investments in new branches and subsidiaries, while promoting Egyptian trade with the rest of the continent. Under its three-year expansion strategy, Banque…
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EGYPT – Banque du Caire, a financial service provider, has revealed that it achieved EGP3.2 billion (US$204.11m) net profits in 2020, while its profits before taxes reached EGP4.8 billion (US$306.17m). According to the bank’s performance indicators for 2020, it achieved a 19% year-over-year growth in total revenues to EGP12 billion (US$765.41m) by the end of 2020. This compared to the EGP10 billion…
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EGYPT – Banque du Caire, a full-service bank, has secured US$100 million financing package from The European Bank for Reconstruction and Development (EBRD) for trade financing and on-lending to local micro-, small and medium-sized companies (MSMEs). The EBRD will provide a US$50 million loan to help Banque du Caire increase the amount of funding it makes available to Egypt’s MSMEs…
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EGYPT – Banque du Caire Tarek, one of Egypt’s largest commercial banks, has once again shelved plans to list its shares on the Egyptian Stock Exchange due to the economic challenges caused by the corona virus pandemic. Speaking to Reuters, Chairman of Banque du Caire Tarek Fayed revealed that the bank had started the procedures of the offering process but…
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EGYPT – Egypt has announced plans to sell a minority stake in state-owned Banque du Caire in an initial public offering (IPO) worth about $500 million. The bank’s chairman Tarek Fayed said that the financial institution intended to float the IPO in mid-April provided investor interest holds up in the face of the coronavirus. The bank is part of a…
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EGYPT – Banque du Caire, one of the largest commercial banks in Egypt has recorded significant growth in the fiscal year 2019 recording revenues in excess of the targeted rates. The bank’s profits before taxes reached EGP 5.29 billion (about US$340 million) at the end of 2019 compared to EGP 3.89 billion (US$250.16 million) at the end of 2018. The…
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EGYPT – Banque du Caire,one of the leading full-service banks in Egypt has signed a US$31 million (EGP500 million) contract with the Micro, Small, and Medium Enterprises Development Agency (MSMEDA) to finance micro projects as part of the Khalifa Fund for Enterprise Development’s agreement. The multimillion-dollar deal is in line with Egypt’s strategy to expand financing to micro enterprises to…
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