Banks continue to shine with strong business results in 9M18
Marked increase in deposits, loans portfolios, NPLs decline at most banks
Hossam Mounir
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Latest by Hossam Mounir
EALB grants EGP 50m to Tamweely Microfinance to fund micro-enterprises
Protocol is part of EALB’s plan to expand in microfinance for their socio-economic importance, says Kamal
QNB Alahli, Damietta Furniture Company sign protocol to support projects in city
Agreement is extension of bank’s role in development of society, provides of means of support at economic, social levels: El Dib
International, local financial institutions offer to invest €850.1m in Egyptian T-bills
Interest up slightly, highest bid at 1.75%
Suez Canal Bank’s financial position scored EGP 45.3bn at end September: chairperson
Bank sold 12 of assets it obtained worth EGP 293m
CBE floats €675m T-bonds on Monday
Bonds bear maturity of 364 days, due on 12 November 2019
CBE reviews interest rates on Thursday
MPC cut interest rates twice this year, kept them unchanged during 4 consecutive meetings
Egypt repays $1.36bn worth of international bonds in December
Outstanding bonds worth $18bn and €2bn due within 30 years
MSMEDA launches electronic platform to micro, small enterprises by 2019: Gamea
Agency heralds Moftah Mashro’ak competition supporting entrepreneurs with Ministry of Youth
Highest level of FX reserves in history reached by end of October
CBE: $86m increase in value of gold, foreign currencies balance down by $36m
Businesses feel confident about success as Egypt’s market dynamics improve: HSBC
Advanced technologies play a catalytic, powerful role in accelerating national economic growth: Tawfik
Khalifa President of ICA
Habib ICA vice-president, Lamari, Amen, Serr board directors, Shami as secretary general, Al-Hasmi member of executive body
UAB discusses partnership between private, public sectors to achieve sustainable development during annual conference
700 banking experts, leaders, officials, central banks’ governors, economists, planning ministers to attend event
Household sector accounts for 78.8% of total bank deposits by end of August 2018: CBE
Deposits growth rate at 18.79%, local currency deposits at 22%, foreign currencies deposits at 9.7%
ABE to offer global tender in 6 months to develop its technological structure: Chairperson
We addressed 26,000 defaults in EGP 1.5bn debts, settled 2,700 worth EGP 175m, says Elkosayer
Two years since currency floatation
Foreign exchange reserves up by $25bn, hard cash flow increased, inflation declined, external debt $92.6bn
Banque Misr’s CSR contribution amounted to EGP 700m in last FY: Chairperson
Bank aims to double amount in coming years by focusing on education, health, youth support: El-Etreby
Outstanding balance of T-bills, T-bonds registered at EGP 2.006tn end of September
T-Bills of 91-364 days balances score EGP 1.305tn, mostly of 357, 364 days: CBE
2,814 projects benefited from AFESD’s $50m loan
Projects obtained EGP 578m funding, created 12,700 jobs from loan
Egypt’s trade with world registers $88.93bn in 2017/18
Imports at $63.103bn, exports score $25.827bn, UAE tops trade partners
NBE provides EGP 2bn for 18 companies working in cotton ginning, trade
Benefiting companies include eight private sector companies
SMEDA confirms its readiness to cooperate with all banks wishing to fund youth projects: CEO
Since 1992, SMEDA funded 2.9m micro, small projects worth EGP 37.8bn, created 4.6m jobs, says Gamea
SMEs account for 24% of United Bank’s total credit portfolio: vice chairperson
Bank to offer unique funding solutions, smart digital services, to support these projects, say Abdel Hamid
HDB’s SMEs portfolio amounted to EGP 2.2bn at end June: chairperson
Bank intends to pump EGP 400m to finance SMEs: El-Sebai
Banque Misr finances cotton with EGP 1.3bn for 2018/19 season
Bank arranged 17 financing operations worth EGP 113bn, planning further loans worth EGP 20.4bn
Egypt’s average external debt per capita records $883.9 in June 2018: CBE
External debt up to $92.6bn in June 2018, $79.032bn in June 2017, an increase of $13.6bn
Banks’ investments overseas: high diversity, multiple risks, derivatives completely prohibited
CBE placed several measures to hedge, expand investments, eliminate risky asset investments: Metwally
Egyptian banks find their way towards green banking as path to sustainable development
The FEB founded sustainable development committee in 2014 to implement the vision, while adhering to the best international practices in this regard
57th ACI World Congress, 43rd ICA conference begin Friday in Cairo
400 financial market experts, senior officials from around world to attend
Spectra Technology aims to supply 90,000 POS for banks, ministries, e-payment companies
Interviews underway with electronic collection companies to agree on smart applications final form for banks’ electronic payment cards