First Bank news-letter: new rating list is out, NBE’s Okasha and his role, Fitch new expectations

The Egyptian pound index fell against major currencies basket during yesterday trading to 77,663 points, compared to 79.212 points at the end of trading last Thursday.

First Bank announced its final list of most banks investing into personal loans by the end of H1- 2022; with the Housing and Development Bank topping the list after recording the highest relative weight 59.47% of the bank’s total customer loans.

The National Bank of Egypt (NBE), one of the most prominent banks in Egypt, Africa and the Middle East, successfully obtained the ISO 27701 Certification: Data Privacy Information Management System., NBE was the first in Egypt, Africa and Middle East to receive this certificate.

Fitch Solutions has revised up its projections for Egypt’s real GDP growth in 2022 by 0.3 percent to 6.62 percent from 6.59 percent it projected in October, according to its latest update on its monthly MENA Economic Outlook Report. Egypt has also been seen improving on the Reform Tracker index.

The Central Bank’s efforts in digital transformation continue, as it revealed a new ambitious plan aimed at increasing the number of electronic points of sale at government entities to 22,000 POS