Export Development Bank of Egypt chooses Bluering Risk Rating
Cairo – Mubasher: Export Development Bank of Egypt (EBE) has started a joint programme with Standard & Poor's Financial Services and Bluering company regarding applying the International Financial Reporting Standard 9 (IFRS9).
Upon this step, the Egypt-based bank aims to develop the credit rating systems and to manage risks and banking operations, the lender said in a filing to the Egyptian Exchange (EGX) on Thursday.
The joint programme has begun on Wednesday, 18 April in order to provide the state-of-the-art international operations regarding this matter, the EBE indicated.
EBE’s capital amounts to EGP 1.7 billion distributed over 172 million shares at a par value of EGP 10 per share.