Credit Agricole Egypt continues development plans in 2018
We have CSR philosophy based on sustainability, empowerment, says managing director
Hossam Mounir
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Latest by Hossam Mounir
NBE, BM, Banque du Caire to cover tourism companies’ expenses for Hajj
The National Bank of Egypt, Banque Misr, and Banque du Caire officials met with representatives of the Ministry of Tourism and the head of the religious tourism committee of the Egyptian Travel Agencies Association (ETAA). During the meeting, they agreed to have the three banks secure the needed Saudi riyals to cover the expenses of …
Total bank credit facilities increase by EGP 60.5bn in 7 months
Private business sector accounts for 61.3% of total facilities, notably industrial field, says CBE
181.6 % increase in Egyptian cotton exports in Q2 2017/2018
The Central Agency for Public Mobilisation and Statistics (CAPMAS) issued its quarterly bulletin on cotton for the second quarter (December to February) of the agricultural season 2017/2018. The total amount of Egyptian cotton exports reached 379,700 kantars during that period, up from 134,800 kantars during the same period of the previous season, marking a large …
Parliament committee recommends removing MP Khaled Bishr over EGP 45m dishonoured cheques to UBE
Parliament’s legislative and constitutional affairs committee, headed by Bahaa Abu Shoqa, concluded that the judicial verdicts against Khaled Bishr, a parliament member from Sharqeyah, have led him to lose trust in the MP for issuing dishonoured cheques worth EGP 45m for the United Bank of Egypt (UBE), which he said is an issue that affects …
FX reserves continue north, scoring $44.14bn end-May
The foreign exchange (FX) reserves balance at the Central Bank of Egypt (CBE) continued to rise during May 2018 to reach $44.14bn, up from $44.03bn at the end of April, rising by $110m. The level of foreign exchange reserves marks the highest ever in the history of the CBE. The level of reserves covers over …
Trade exchange between Egypt, world at $42.86bn from July-December 2017: CBE
Imports at $30.8bn, exports score $12.05bn in last 6 months of 2017
Deposits up EGP 65bn, loans rise EGP 23bn in January 2018: CBE
The volume of deposits at banks operating in the domestic market jumped in January 2018 to EGP 3.39tn from EGP 3.32tn in December 2017, an increase of EGP 65bn, according to the Central Bank of Egypt (CBE). In its recent report, the CBE said that total government deposits increased in January 2018 to about EGP …
HDB targets EGP 8.82bn in deposits, EGP 3.7bn loans portfolio by end-2018
Bank aims to increase profits by 50% to EGP 1.5bn
CBE studying Swedish experience in becoming cashless society
Intensive meetings with Swedish central bank fintech experts, startups, payment service providers to discuss mutual cooperation, experience exchange
IDWBE aims to close deferred loss file this year
We aim to achieve profits of EGP 1.5bn by end-2018, says Fahmy
MIDB, SMEDA sign cooperation protocol to funds MSMEs
Protocol extends over 1 year, financing between EGP 500,000, EGP 10m
AlexBank allocates EGP 22m annually for CSR: Hosni
Bank supports more than 3,500 craftspeople around Egypt, especially in Qena, Sohag, Sinai
United Bank lays out seven-point strategy
Intelligent banking services, intensification of financial inclusion campaigns, expansion of Shariah-compliant banking solutions, says El Kady
AlexBank signs EGP 50m protocol with Sawiris Foundation
The Bank of Alexandria (AlexBank) signed a protocol with Sawiris Foundation for Social Development (SFSD) worth EGP 50m for supporting underprivileged children, to be contributed to equally by both entities. This came during their annual iftar event dedicated to homeless children, which was organised in cooperation with Samusocial International Egypt, under the auspices of the …
116,000 feddans of 1.5m feddans project cultivated in 2016/2017: CAPMAS
Minya top governorate with 70,000 feddans, accounting for 60.5%
Telecom Egypt signs $200m financing deal with Afreximbank, managed by ADIB
Participating in deal of this size emphasises bank’s growth strategy, says Aly
FX stabilises again after reaching 10-month high
Fluctuation is healthy under supply, demand, says Abdel Aal
7.2% increase in industrial production in Q3 2017
The Central Agency for Public Mobilisation and Statistics (CAPMAS) issued its quarterly bulletin on industrial production of public and private sector enterprises that employ 25 or more workers for the third quarter (Q3) of 2017. The report showed that the total industrial production value (excluding crude and refined petroleum) reached EGP 145.3bn during Q3 2017 …
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Egypt adopts three-point plan to develop exports: EDA chairperson
Egyptian exports should be directed to east, south, says El Kady
Benefits of economic reform in Egypt are outstanding: HSBC’s chief economist for CEEMEA
We remain fundamentally optimistic regarding our economic expectations for Egypt in near future: Williams
ABE aims to become largest small projects bank in Egypt: chairperson
We are racing against time to completebank’s restructuring process, prepare it to take on a bigger role in serving national economy across various fields: Elkosayer
CBE reviews interest rates
Market expectations shift from cuts to maintaining
ABE injects EGP 300m into veal project over 7 months: chairperson
Bank offered loans to 2,158 customers to feed, fatten 22,400 cattle nationwide, intends to inject further EGP 200m in project soon
SMEDA signs 5 contracts for youth employment in Assiut
Authority aims to finance small projects to limit irregular migration, support Egypt’s sustainable development strategy, says Gamea
Remittances record $17.3bn in 8 months: CBE
Egypt receives foreign exchange inflows of about $120bn since flotation, says Amer
Falling inflation allows another interest cut: Beltone Financial
Despite rising interest rates in emerging markets, Egypt’s strong outlook, exchange rate stability justify continued opportunity to invest in fixed income instruments
Metropolitan Egypt secures EGP 7m loan for Hi Style Building Contracting Company
Funding secured from NBE, including EGP 5m to finance operations, EGP 2m for letters of guarantees for tenders, says Nagaty
Strong expectations for new cut in pound interest on Thursday
MPC trimmed key interest rates by 2% since beginning of 2018 after inflation eased
AAIB, SANAD Fund launch Sandah for microfinance in Egypt
Egypt’s newest microfinance lending institution, Sandah, was launched in Cairo on Tuesday with EGP 155m in capital. Its main founding shareholders—the Arab African International Bank (AAIB) and SANAD Fund for MSME (SANAD)—celebrated the launch of Egypt’s newest microfinance company. SANAD Fund’s expansion in the Egyptian market is a testament to the international financial institutions’ confidence …