Emirates NBD
In a dynamic display of commitment to the Egyptian youth, Emirates NBD-Egypt recently took the stage at a significant event at the European Universities in Egypt (EUE).
“This slowdown will be a challenge to Egypt’s economy in 2020.”
HIS Markit said in a report that business sentiment around future activity soared to the highest in one-and-a-half years in August, as more Egyptian firms expressed optimism for growth.
This improvement came as a result of the slight growth of output and new orders, while employment continued to fall.
"Egypt’s non-oil private sector remained under pressure in June, although the pace of decline slowed from May," MENA Economist at Emirates NBD Daniel Richards commented.
It said that the private sector has continued to bear the brunt of ongoing reform economic efforts in Egypt, and will likely remain under pressure in the summer.
“The index has remained stubbornly in sub-50.0, and while we continue to expect an improvement in conditions over 2019, Egyptian firms clearly remain under pressure.”
PMI for the non-oil private sector fell to 48.5 in January, compared to 49.6 in December, recording the lowest level since December 2017.
The bank has won the Best Mobile Banking App award in Egypt for 2018 by International Finance Magazine for the second time
Egypt’s Emirates NBD Purchasing Managers’ Index (PMI) edged up from 49.2 in March to 50.1 in April, leaving it just above the 50-mark.
The seasonally adjusted Emirates NBD Saudi Arabia PMI edged down to 57.3 last month from a 2-year high of 57.5 in November.
Net profits of Emirates NBD Egypt hit a 13-percent rise during the first nine months of the current year recording LE 847.5 million ($47.9 million).
Net profits of Emirates NBD Egypt hit a 13-percent rise during the first nine months of the current year recording LE 847.5 million ($47.9 million).
Egypt’s non-oil private sector business activity shrank at a slower pace in October as business confidence hit a 26-month high and contractions in output, new orders and employment all eased, a survey showed on Sunday.
PMI Index for the non-oil private sector slipped to 47.4 in September from 48.9 in August, remaining below the 50 mark that separates growth from contraction.
Emirates NBD bank announced that it is taking part in a 1.8 billion EGP syndicated loan in favor of the state-owned Egyptian Natural Gas.
