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Banking Sector

Bank ABC appoints Amr Tharwat as new CEO for its Egyptian franchise

Tharwat will be taking the role as Bank ABC is in the final stages of its acquisition of BLOM Bank Egypt

Banks warn against phishing scams after EGP 2.7M was stolen from customer

The group of fraudsters stole around EGP 2.7 million through an estimated 13 fraud incidents

Bank ABC completes its acquisition of BLOM Bank Egypt

The merger is still subject to regulatory approval and expected to conclude in Q1 2022

National Investment Bank is not being liquidated says managing director

Denying an earlier news report, the government will not be liquidating NIB, but is currently working on a restructuring plan said Negm

Reaction Overblown? CEB's decisions led to intense selling: Op-ed

The CBE’s recent decisions have led to an intense selling wave in banking sector stocks. Evidence, however, invalidates investors’ concerns