CBE limits mortgage initiative to low-income after earmarked EGP 20bn runs out
NBE, HDB, Banque Misr, Banque du Caire, IDB top list of banks participating in CBE initiative with total funding of EGP 15.7bn to 165,800 clients
Hossam Mounir
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Remittances of Egyptian expats reach $23.3bn in 11M18: CBE
Increase of 5.7% in remittances compared to same period in 2017
Price of US dollar against pound nearly stable on Tuesday after two-day decline
US currency recovers less than half piaster of 30 piasters it lost on Sunday, Monday
US dollar continues to fall against pound, losing 7 piasters
Market watching exchange trade trend, amid expectations of further appreciation of pound
Outstanding balances of T-bonds fell by EGP 10.4bn by end December 2018: Finance Ministry
Bonds due between 25 February 2019 – 6 November 2028
Dollar value falls by over EGP 0.22, biggest decline in 9 months
American currency supply increases in interbank market amid resumption of foreign investment in government debt instruments
“We work with clients to boost digital commerce in 2019”: Visa GM in North Africa
Visa will exert all efforts to make Cup of African Nations memorable for football fans in Egypt
Intertwined factors will set fate of interest rates, exchange rate, FX reserves, inflation in 2019: Analysts, bankers
Inflation will be at 10%-14%, some analysis points to 17.8%
Banks move toward digitisation, fintech
NBE launches first e-service branch; Banque du Caire to introduce first smart branch
Six important targets for ABE to achieve in 2019: Chairperson
‘We aim to increase bank’s role in microfinance, financial inclusion, expand e-payments’: Elkosayer
NBE eyes 15%-20% growth in its various activities during 2019: Vice Chairperson
Industry bank’s top priority due to its positive impacts on economy overall: Aboul Fotouh
UNB-E aims to achieve 40% growth rate in 2019: Vice Chairperson
Bank has ambitious plans to expand in SMEs to reach various social segments
IDB aims to close deferred losses file completely during H1 2019: Chairperson
We need cultural reform plan to develop people’s awareness that to thrive we need to increase production
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Banque du Caire to expand funds in all economic sectors to assist in economic development: Chairperson
‘We achieved 80% growth rate in financing SMEs, 95% in micro funding, 60% in financing large companies in 2018’: Fayed
Ridding NPLs is dream of Suez Canal Bank chairperson in 2019
‘We managed to settle EGP 1.5bn of debts in last 18 months’: Refaey
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
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