GB Auto is a leading automotive player in the Middle East and North Africa. It is the sole assembler and distributor of both Hyundai passenger cars (PC) as well as the Geely Emgrand 7, and the exclusive Mazda PC distributor in Egypt with a total market share of 30%, the highest among industry players. Through a 50/50 joint venture (JV) the...
Egypt’s robust banking sector has survived the economically turbulent period that followed the 2011 revolution remarkably well. High-quality asset bases and generous capital buffers have enabled financial institutions to support the nation during this challenging period, most notably through the purchase of large volumes of Treasury bills (T-...
Benefitting from the nation’s increasing economic stability over the past year, Egypt’s banks have enjoyed both ratings upgrades and continued profitability. Thanks to an ambitious government development strategy and new investment legislation, the project finance pipeline is returning to form after a period of muted activity. Elsewhere on the...
Successive governments and central bank governors have highlighted the importance of extending credit to Egypt’s small and medium-sized enterprises (SMEs), and in early 2015 Prime Minister Ibrahim Mahlab declared a renewed determination to support SME growth in a speech which called attention to the funding difficulties faced by small...
Commercial International Bank (CIB) was established in 1975 as a joint venture between the National Bank of Egypt (51%) and the Chase Manhattan Bank (49%). Today, the bank is the biggest publicly traded stock on the EGX30, with an index weight of approximately 38%, and the biggest and only exposure to a large cap bank in the Egyptian market....
The Central Bank of Egypt (CBE) has battled to rein in an emerging parallel market in currency exchange since 2011, when political turbulence saw the Egyptian pound lose 13.4% of its value against the US dollar, an occurrence which, in turn, greatly effected the wider economy. Hisham Ezz Al Arab, chairman and managing director of Commercial...
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