4.712m credit cards in Egypt by end-2017: CBE
Top 5 Egyptian banks account for more than 96% of POS, 69.48% of ATMs
Hossam Mounir
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Latest by Hossam Mounir
Non-performing loans fell to 4.9% of loans at end-2017: CBE
Banks allocated EGP 109.979bn to face NPLs, including EGP 68.175bn by top 10 banks
Egyptian banks make EGP 59.075bn profits in 2017: CBE
Top 5 banks accounted for 47.424% of total profits, top 10 achieved EGP 37.02bn
Banque du Caire contributes to EGP 568m loan to Zizinia El Mostakbal project
Bank is keen to support real estate sector through pumping all necessary financing for economically feasible real estate projects in light of state’s interest in such projects, says Fayed
SMEDA financed 48,000 projects in Alexandria worth EGP 1.2bn
Authority offered grants of EGP 131.7m to implement labour-intensive infrastructure projects
President rejuvenated SMEs by launching his EGP 200bn initiative
Banks financed 62,000 projects under initiative worth EGP 68bn until end-December 2017, says Azzam
Banks turn to companies with temporary workers to promote Aman certificate
Certificate proceeds from NBE, ABE amounted to EGP 16m in first week
Egyptians flock to purchase ‘Aman’ insurance certificates
NBE offering Aman certificates to temporary workers of companies dealing with it
Manufacturing, extractive index down 8.1% in December 2017
The Central Agency for Public Mobilisation and Statistics (CAPMAS) issued, on 5 March, a report about the metadata of the production index of manufacturing and extractive industries for December 2017. The manufacturing and extractive industries index (excluding crude oil and petroleum products) stood at 128.81 during December 2017 (primary) compared to 140.15 during November 2017 …
EGP 85.052bn cost of establishing 276,600 residential units in FY 2016/2017: CAPMAS
The fiscal year (FY) 2016/2017 witnesses the establishment of 276,600 residential units, implemented by the private and public sector at a cost exceeding EGP 85.052bn, according to the Central Agency for Public Mobilisation and Statistics (CAPMAS). In a recent report, the CAPMAS said that the government implemented 59,964 units with investments reaching EGP 34.206bn. Meanwhile, …
International bonds push Egypt’s foreign reserves to $42.524bn at end-February
Egypt recorded the highest foreign reserves in its history at $42.524bn at the end of February from $38.209bn at the end of January 2018, an increase of $4.314bn, the Central Bank of Egypt (CBE) said on Sunday. Egypt received the yields of its recent eurobond issuance, which was in February, amounting to $4bn, and were …
EALB joins Egyptian Union of Microfinance
Bank aims to expand in microfinance for its great economic, social importance, says chairperson
AIB allocates EGP 100m to finance microprojects: chairperson
Bank injected EGP 80m to finance microprojects through associations, companies
4 state-run banks to offer Aman insurance certificates Sunday
Certificates to cover temporary workers, other individuals without social security coverage
SMEDA financed 14,000 MSME projects in Fayoum Governorate in 2017
Authority’s current strategy based on expanding, diversifying areas of finance to serve all sectors of MSMEs, says Gamea
Protocol agreed between Red Sea Ports, Military Production to establish fishing ports in Abu Ramad, Shalateen
Abu Ramad Port to stand on 70,000 sqm, estimated to cost EGP 120m, Shalateen port on 150,000 sqm at EGP 150m, reveals Arafat
Beltone expects dollar exchange rate to reach EGP 17.55 in FY 2017/2018
Short-term external debt levels main obstacle to improving economic indicators
Misr El Kheir, Emaar Misr to sign agreement on housing construction, small projects
Misr El Kheir Foundation is expected to sign a cooperation agreement with Emaar Misr on housing construction and small projects, the foundation’s head of resources development, Amal Mobdy, said on Sunday. Mobdy added that the foundation will also be signing an agreement with Al-Ahly Sports Club, but she did not disclose the objective of the …
Banks avoid interest rate cuts to maintain depositors
Few banks implement interest rates cuts on savings accounts one week after CBE decision to cut basic interest rate by 1%
SMEDA signs contracts worth EGP 23.8m with NGOs to finance microprojects in 8 governorates
Funding allows implementation of nearly 2,380 projects, 25% directed to women-owned enterprises, says Gamea
EALB considers assets management company for its hotels, resorts: chairperson
Global group, private institutions in Egypt will participate in company, start managing Long Beach Hotel in Hurghada, says Kamal
SMEDA signs cooperation agreements with 14 NGOs in microfinance field
We seek to encourage establishment of microenterprises, with aim of improving living conditions, providing more job opportunities, says Gamea
Trade volume between Egypt, world reached $20.621bn in 3 months: CBE
Imports worth $14.781bn, exports at $5.839bn from July to September 2017
Government outstanding debt rises EGP 21.65bn in January 2018
Balance increased from EGP 676.68bn to EGP 698.33bn by end-December 2017: Ministry of Finance
Limited response from banks to CBE’s move to lower interest rates
ALCOs of banks operating in Egypt will hold intensive meetings Monday to study effects of CBE decision
AAIB contributes to long-term joint financing of EGP 4bn for Misr Petroleum, COOP
Funding solidifies bank’s role in supporting energy sector, says AAIB CEO
SMEDA signed contract with Banque du Caire worth EGP 500m to fund microenterprises
25% of contract dedicated to women, 60% to workers below poverty line, 70% to rural areas
Wave of large cuts in bank interest rates on deposits, loans starting Sunday
Banks operating in the local market started on Sunday a wave of major cuts in their interest rates and some loans, in response to the decision of Central Bank of Egypt (CBE) to reduce its basic interest rate by 1%, a move that is the first of its kind since 3 November 2016. This came …
NBE aims to increase assets to EGP 1.5tn by end-June 2018: vice chairperson
Bank seeks to increase its loans for major companies to EGP 350bn, SMEs portfolio to EGP 40bn, deposits to EGP 1tn
NBE, Banque Misr discontinue their 20% interest rate saving certificates
The National Bank of Egypt (NBE) will discontinue offering the platinum saving certificate with an annual return rate of 20%, starting from the end of the workday on 15 February 2018, Yehia Abu El-Fotouh, the vice chairperson of NBE told Daily News Egypt on Thursday. However, current certificate owners will continue to have the same …