Egyptian banks’ net interest margins (NIMs) are expected to withstand the impact of major interest rate cuts likely to be introduced by the Central Bank of Egypt (CBE) this year.

Fitch Ratings has upgraded the long-term issuer default ratings (IDRs) of four major Egyptian banks to 'B’ from ‘B-,' with a stable outlook.

Fitch Ratings has upgraded Egypt's long-term foreign-currency issuer default rating (IDR) to 'B' from 'B-', with a stable outlook, citing significant improvements in the country's external finances, fiscal policies, and economic resilience.

Fitch Ratings has upgraded the outlook of four Egyptian banks’ long-term issuer default ratings (IDRs), namely the National Bank of Egypt (NBE), Banque Misr, Banque Du Caire, and Commercial International Bank (CIB), from stable to positive, affirming IDRs at B-.

Fitch Ratings has revised Egypt’s outlook to positive from stable, affirming the country’s long-term foreign-currency issuer default rating (IDR) at ‘B-’.

Fitch Ratings announced that Egypt’s $35 billion deal with Abu Dhabi Developmental Holding (ADQ) will ease its external liquidity pressures and facilitate an adjustment of its exchange rate.

Fitch Solutions expects an uptick in Egypt’s real gross domestic report (GDP) to reach 4.2% during the current financial year (FY) 2023/2024, compared to 3.8% in the elapsed FY 2022/2023.

Fitch Ratings has downgraded the long-term issuer default ratings (IDRs) of three Egyptian banks, namely the National Bank of Egypt (NBE), Banque Misr, and Banque Du Caire, to ‘B-’ from ‘B’, with stable outlooks.

Fitch Ratings has downgraded Egypt’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘B-’ from ‘B’, with a stable outlook.

Fitch Ratings has downgraded the Long-Term Issuer Default Ratings (IDRs) of four Egyptian banks, namely the National Bank of Egypt (NBE), Banque Misr, Banque Du Caire, and CIB, to ‘B’ from ‘B+’, with their outlooks remaining negative.

Fitch Ratings has downgraded Egypt’s long-term foreign-currency issuer default rating (IDR) to 'B' from 'B+', with a negative outlook.

The report also showed that Egypt’s exports of petrochemicals, chemicals, and fertilizers grew 45% year on year in 2021 to hit $6.7 billion, surpassing the Chemical and Fertilizers Export Council’s forecast of $5.8 billion. This growth in exports was driven by an uptick in the production of natural gas, in addition to higher prices, the report added.