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Industrial Development Bank announced an increase in its issued and paid-up capital from EGP 500 million to EGP 5 billion, in compliance with the requirements of the Central Bank of Egypt’s regulations. This move also involved raising Banque Misr’s share in the Industrial Development Bank’s capital to reach 85.04%.

The Industrial Development Bank has joined a banking consortium to finance the Palm Urban Development Company’s project in New October City, with a total value of EGP 10.3 billion. This step comes as part of the bank’s commitment to supporting various projects that contribute to achieving sustainability.

Dr. Maya Morsy, Minister of Social Solidarity, met with Mennan Awadallah, Deputy Chief Executive Officer of the Industrial Development Bank, at the headquarters of the Ministry of Social Solidarity in the New Administrative Capital.

Hussein Refai, CEO and Managing Director of the Industrial Development Bank (IDB), affirmed that the bank’s participation in financing Palm Hills Development comes within the framework of its strategy to support national projects that contribute to enhancing economic growth and creating new job opportunities.

The Industrial Development Bank has granted a bridge loan worth EGP 900 million to Tasheel for Finance, a leading microfinance company in Egypt and one of the companies under the MNT-Halan Group. This new step reaffirms the bank’s commitment to supporting the national economy

Hussein Refai, CEO and Managing Director of the Industrial Development Bank (IDB), stated during the opening of the annual conference on private sector participation, held under the theme "The Latest Economic Developments and the Way Forward," that the banking sector is one of the most active sectors in keeping pace with technological advancements, particularly during the COVID-19 period.

Hussein Refai, CEO of the Industrial Development Bank, stated that the Central Bank of Egypt is making great efforts to support economic stability and is working diligently toward this goal.

Five banks fully covered Beltone Leasing and Factoring’s securitization issuance, valued at approximately EGP 1.33 billion. These banks are the National Bank of Egypt, Banque du Caire, First Abu Dhabi Bank, Suez Canal Bank, and the Industrial Development Bank, according to sources from Al Borsa.

The Industrial Development Bank (IDB), together with the National Bank of Egypt, Banque Misr, and eight other banks, announced the provision of a joint financing facility worth EGP 50 billion in favor of the Social Housing and Mortgage Finance Fund

The Industrial Development Bank (IDB) has won the award for "Best Strategic Restructuring and Development Plan in Egypt for 2024" from the Union of Arab Bankers.

The Commercial International Bank (CIB) announced that it is leading a banking consortium comprising seven banks, acting as the Lead Arranger and Bookrunner, to arrange a syndicated loan of EGP 9 billion for a term of seven and a half years in favor of Madinat Masr for Housing and Development, one of the leading companies in the Egyptian real estate development sector.