Egypt paid $1.36bn of international bond balances in December 2018
Ministry of Finance reduced volume of outstanding balances of international bonds to $19.21bn end-2018
Hossam Mounir
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ABE general assembly adopts bank’s articles of association
Assembly decision last measure to complete implementation of Law 84 for merger of Upper, Lower Egypt banks into main bank: Elkosayer
17.4% increase in total bank deposits balance in 2017/18: CAPMAS
Total deposits balance increased in 2017/18 to reach EGP 3553.6bn, with an increase of 17.4% with the household and private business sectors having the greatest impact on high deposits. The Central Agency for Public Mobilisation and Statistics (CAPMAS) has issued the annual statistical bulletin for deposits and credit. It included information on the evolution of …
MSMEDA injects EGP 316m to finance 12,000 small projects in Suez
Projects funded by agency provided 30,000 jobs for inhabitants of governorate
All banks operating in Egyptian market invited to adopt principles of responsible banking
Egyptian banking sector is strong, capable of achieving Egypt’s leadership in sustainable development in Middle East, Africa
Micro finance portfolio at Banque du Caire registers EGP 4.5bn at end of December: Chairperson
Bank launches community training, employment project for youth at beginning of 2019
IDB signs three cooperation protocols to support SMEs in Beheira Governorate
Bank agrees with Nat Gas to finance delivery of gas to industrial units within CBE’s initiative
NBE manages loans, grants worth €330m to fund EPAP, bank chairperson says
Bank signed 3 new agreements to fund Semadco, Emisal, AMOC with €25m in third phase of project
United Bank’s mortgage portfolio scored EGP 235m: Chairperson
Bank funded housing units purchase for 1,850 clients, says El-Kady
NBE, BM issue first national payment card
Card targets over 20 million Egyptian citizens who do not deal with banking sector: NBE Chairperson
Exports up by 6.8% in October 2018
Trade balance deficit scored $4.56bn
Gold value listed in FX reserves growth curbs reserves decline in December 2018
FX reserves gold value increased by $104m, foreign currencies down by $2.068bn
International, local financial institutions offer to invest $934.1m in Egyptian T-bills
Interest rate accepted by CBE grew to maximum of 3.8%, minimum of 3.78%, averaging 3.797%
MSMEDA injects EGP 5.3bn to fund 247,000 projects in 2018
EGP 5.3bn were allocated to fund 247,000 small, micro projects, providing 395,000 jobs
CBE’s interest rates consistent with aim of attaining single digit inflation once state’s fiscal consolidation programme ends: CBE
Measures to control country’s finances expected to temporarily affect private consumption recovery rate
Foreign assets deficit continues to widen in banks
Exit of foreign capital from emerging economies trailed in October at slower pace since April 2018: CBE
Credit facilities granted by banks to their clients increased by EGP 25.3bn in October
Private business sector covered for 61% of total credit facilities, industries among top beneficiaries: CBE
CAPMAS embarks on fieldwork of fifth economic census 2018
Census aims to provide complete picture of structure, characteristics of various economic activities, their geographical distribution: Barakat
Government intends to borrow EGP 473.75bn in Q1 of 2019 to bridge budget gap
Finance Ministry to float T-bonds, bills worth EGP 181.5bn by January, EGP 146bn by February, EGP 146.25bn by March
MSMEs account for 75% of ABE’s loans portfolio by end October: chairperson
Bank pumped EGP 605m to 1,314 clients in CBE’s initiative, says Elkosayer
HDB profits scored EGP 1.393bn end September: chairperson
Bank’s housing projects profits increased to EGP 370.3m end of September, up by 24.7%
United Bank shifting from losses to profits, earning over EGP 1bn: chairperson
Bank injected EGP 136m to 1,800 low- and middle-income mortgage financing clients, says El-Kady
Suez Canal Bank’s financial position stands at EGP 45.3bn end-September: chairperson
Syndicates loans up by EGP 1.8n to EGP 4.8bn, as bank jointly finances 11 loans to strategic, development sectors
Government-owned, private banks reduce investments in T-bills by EGP 31.2bn in November 2018: CBE
Foreign banks working in Egypt take different stance, increase investments by EGP 3.87bn, against foreign investors’ direction since April 2018
CBE Governor, Libyan bank delegation, discuss fortifying mutual cooperation, exchanging experiences between two sides
Both sides agree on economic issues, pay great attention to technical support, training programmes: CBE
CBE to review interest rates on Thursday as 2018 meetings conclude
Strong hopes rates to remain stable for 6th consecutive time; 16.75% for deposit;17.75% for lending; 17.25% for credit, discount
Realme smartphones to launch in Egyptian market in January ‘19
We target Egyptian youth with promising opportunities to contribute to our ambitions: Nabil
IDB grants EGP 50m to Tamweely Microfinance to re-lend to projects for low-income groups, most vulnerable
MSMEs portfolio reached EGP 3.4bn, EGP 750m in pipeline: Fahmy
MERIS confirms HDB rating at A- with stable outlook
Bank’s rating reflects relative improvement in banking sector in Egypt
CBE unlikely to extend initiative to settle bad debts
Weak turnout by defaulters, 6 months enough for those who want to settle their debts: prominent banker