Latest in Banking Highlight
Latest in Banking
Suez Canal Bank aims to focus on investment banking services, non-bank financial services
Bank achieved 12% increase in net profit in Q1 of 2019, rise in financial position to EGP 49.3bn: Refaey
Banking draft law to be sent to parliament for approval before end-May: source
It stipulates establishment of committee chaired by prime minister to maintain stability of state’s financial system
US dollar continues decline below EGP 17 for first time in two years: CBE
The average price of US dollar in banks reached EGP 16.99 for buying and EGP 17.09 for selling, according to the CBE
US dollar hits EGP 16.99 mark for first time since March 2017
The average dollar price on Wednesday recorded EGP 17.01 to buy and EGP 17.14 to sell.
IDB buys land plot in New Administrative Capital for its new headquarters
Bank recently opened 11 branches across Egypt
Pound appreciated 84 piasters since beginning of 2019: CBE
US currency is approaching EGP 17 against pound, as foreign exchange flows increase in Egypt
Attijariwafa Bank launches Africa Development Club in Egypt
Egypt is first destination for foreign investment in Africa, says El Kettani
NBE aims to attract more UAE investors to Egyptian market
Bank successfully concluded several transactions with numerous UAE investors for investments in financial markets, debt instruments issued by Egyptian government: Tantawy
Suez Canal Bank opens 44th branch
Chairperson inaugurates new branch in Beni Suef
EALB launches new retail banking package for first time in its history
Bank turned into real estate investment, commercial bank within short period of time: Kamal
National Bank of Greece-Egypt leaves market after 100 years
Assets sold to Bank Audi worth €110m including loans, deposits, securities,17 branches with 250 employees
IDB’s net profits reach EGP 136m in M4 of 2019
Bank allocates EGP 500m to develop its technological infrastructure for modern banking services
CBE governor, communications minister discuss expanding banking services in villages
Amer witnesses signing cooperation protocol to train workers of banking sector in fields of information security, data analysis, financial technology, AI
Egypt’s external debt rises to $96.6bn by end of December: CBE
Egypt’s external debt rose to $96.6bn by the end of December 2018, compared to $82.88bn by the end of December 2017, an increase of $13.7bn, according to Central Bank of Egypt (CBE) on Wednesday. The CBE added that long-term external debt recorded $86.3bn by the end of December 2018, an increase of $1.4bn from December …
Bedeir confirmed success of negotiations to acquire Egyptian banking operations, branches of the National Bank of Greece in Egypt
Final approval by CBE is condition for transaction success
CIB profits reach EGP 2.64bn in Q1 of 2019
Total bank assets increase to EGP 351.68bn until end-March
IDB allocates EGP 500m to develop bank’s technological infrastructure
We aim to increase the branches to 50 by 2023 up from 18 currently, says Fahmy
Al-Sharqawi represents Misr Insurance Company at SAIB Bank’s board of directors
The Central Bank of Egypt (CBE) has approved the appointment of Ashraf Al-Sharkawi as a member of the SAIB Bank’s board of directors. The bank said in a statement to the Egyptian Exchange (EGX) on Thursday that Al-Sharqawi represents Misr Insurance Company in the bank’s board of directors. According to the bank’s statement published on …
Hussein Elgretly appointed as non-executive member of Suez Canal Bank’s board of directors
The Central Bank of Egypt (CBE) has approved the appointment of Hussein Elgretly as a non-executive member of the board of directors of the Suez Canal Bank, representing the Arab International Bank (AIB). The Suez Canal Bank’s board of directors currently includes Hussein Refaey as chairperson and managing director, and Omar Al Sagheer as vice …
Egyptian banking sector ranks 4th in terms of assets in Arab region: UAB
NBE ranked eighth among largest Arab banks with assets worth $75.6bn
Foreign currency deposits up $1.3bn in 1Q 2019 to $42.81bn
Local currency deposits up by EGP 88.1bn to EGP 2.531tn at end of March 2019
Five banks start issuing prepaid cards to pay government dues electronically
NBE, Banque Misr, Banque du Caire, CIB, ABE issued these cards free of charge for six months
Bank Audi signs final agreement for acquisition of NBG Egypt
Deal depends on approval of both CBE, Banque Du Liban
Tuesday was last day to repay first tranche of AIBank capital increase
First tranche estimated at EGP 500m, second at EGP 300m, repaid before March 2020
US investment fund to buy United Bank of Egypt in 3 months, CBE to maintain stake: Amer
The United Bank of Egypt will be sold to a major US investment fund within three months, the Central Bank of Egypt’s (CBE) Governor Tarek Amer revealed on Monday. Amer told Daily News Egypt that the CBE will retain a stake in the bank, without revealing the size of this stake. The CBE owns 99.9% …
Egypt’s banking customer base “weak”, it’s not good timing for cryptocurrencies: CIB
Mohamed Farag, head of International Transactions and Digital Banking at the Commercial International Bank (CIB), described Egypt’s banking customer base as “weak”, with only 14 million customers. He explained that the country should have at least 60 million banking customers, and this low current figure is related to the banking service costs, especially in rural …
EGP 1.852tn balance of local T-Bills, T-Bonds by end-March
EGP 1.158tn balance of T-Bills, EGP 694.4166bn T-Bonds, international bonds by $23.21bn and $4bn: Finance Ministry
CIB-Egypt establishes representative office in Ethiopia
We are happy about regional presence of bank: Ezz El Arab
President instructs enhancement of MSMEDA activities
Gamea reviews agency’s most prominent future trends to collect more funding, draft new law for development of SMEs, microenterprises
NBE extends work hours to 6:00pm in 64 branches to receive tax dues
All bank branches will provide e-tax collection services during official working hours