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Saudi Arabia reportedly suspends talks to acquire Egypt’s United Bank

Arabiya Capital Staff -
Saudi Arabia has reportedly shelved a plan by its sovereign wealth fund to acquire the United Bank of Egypt as talks with Egyptian authorities...
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Is Italy’s Intesa Sanpaolo considering taking full ownership of AlexBank?

Arabiya Capital Staff -
Italy’s Intesa Sanpaolo Group is reportedly in advanced talks with cash-strapped Egypt to acquire the remaining 20% of the Bank of Alexandria (AlexBank) it...
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Tunisia’s banking sector faces uncertain prospects, says S&P Global

Arabiya Capital Staff -
Tunisia’s banks are navigating major uncertainty and significant macroeconomic pressure as the North African country seeks to secure an International Monetary Fund (IMF) to...
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African Development Bank secures $350 million loan from Japan

Arabiya Capital Staff -
The African Development Bank (AfDB) said on Wednesday that has secured a $350 million (JPY 44.1 million) loan from Japan to help finance the...
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UAE’s ADGM partners with Zand Bank to support SMEs

Arabiya Capital Staff -
The Abu Dhabi Global Market (ADGM) said Monday that it has partnered with UAE’s Shariah-compliant digital bank Zand Bank to support SMEs in the...
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Egypt’s Tadbiir Group launches non-banking financial services for SMEs

Arabiya Capital Staff -
Tadbiir for Leasing and Factoring Company said Wednesday that it has launched its non-banking financial services to better support the small and medium-sized enterprises...
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Commercial International Bank FY profit jumps 21% on higher revenues

Arabiya Capital Staff -
Commercial International Bank (CIB) reported a rise of 21% in 2022 net profit, with revenue boosted by the bank’s solid grounding and robust balance...
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Moody’s downgrades 5 Egyptian banks, citing weaker sovereign

Arabiya Capital Staff -
Moody’s has downgraded the long-term bank deposit ratings of five Egyptian banks by one notch a week after the rating company lowered the North...
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Dubai’s Network International to launch ‘direct to merchant’ payments in Egypt

Arabiya Capital Staff -
Dubai-based payments processor Network International said Wednesday that it will launch its new ‘direct-to-merchant’ service offering in Egypt after receiving approval from the central...
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HSBC, Uber launch new on-demand cashouts in Egypt

Arabiya Capital Staff -
HSBC Egypt said Wednesday that it has joined forces with Uber Technologies to launch Flexpay, a digital payments solution that provides unbanked drivers on...
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