The ratings agency updated its outlook for the National Bank of Egypt, Banque Misr, Banque du Caire, and the Commercial International Bank (CIB) to positive
Banque Misr’s new Visa Platinum Debit Card can be used to make purchases inside or outside of Egypt, as well as withdraw in foreign currency while traveling outside of the country
Continued foreign currency shortages, difficult operating conditions, and high asset risks were main contributors to the new outlook, noting that it may impact banks’ operations and place further pressure on various aspects of operations
El Etreby said that the NBE raised EGP 7 billion and Banque Misr secured EGP 4 billion
Fitch Ratings has lowered credit ratings on four Egyptian banks, citing concerns about external financing, macroeconomic stability, and government debt
