Latest in Banking Highlight
Latest in Banking
Nossier replaces ElBaradei as new executive director of Egyptian Banking Institute
The board of directors of the Egyptian Banking Institute (EBI) has appointed Abdel Aziz Nossier as the new executive director of the institute, replacing Dr. Mona ElBaradei. Nossier has a proven track record in the field of human capital development, particularly in the banking sector. In addition to that, the new executive director holds a …
HDB raises number of branches to 73
El-Sebai opens the second branch of the bank in Daqahleya governorate to serve the citizens of Gamasa and the industrial city
IDWBE deposits up by EGP 3.01bn, loans by EGP 2.3bn in H1 2017
Net profit of EGP 145m by end of June 2017 against EGP 86m in 2016, says Fahmy
Volume of NBE’s financial position reached EGP 1.3tn by end of FY 2016/2017: bank’s vice chairperson
Bank’s net profits EGP 12.5bn by end of June 2017: Abu El-Fotouh
Arab African International Bank increases Golden Saving Account rates to 14% annually
The Arab African International Bank (AAIB) raised the interest rates for the Golden Saving Account in Egyptian pounds to 14% annually, 13% semiannually, 12.75% quarterly, and 12.5% monthly. Return is calculated on the lowest balance during the month—provided that it is not less than the minimum balance of EGP 5,000. Hassan Abdalla, the CEO of …
NBE does not intend to issue bonds on foreign markets: vice chairperson
We aim to offer the bonds with a suitable return and the delay in offering is better, says Abu Al-Fotouh
United Bank to reduce its troubled debt portfolio to less than EGP 2bn by 2017 end: chairperson
The bank seeks to increase its profits by more than 100% by the end of this year, says El Kadi
CBE raises interest rates 2% for second time in 2 months
Deposits increased to 18.75%, loans to 19.75%
Analysts expect CBE to keep interest rate unchanged after Thursday meeting
Seven out of nine analysts and investment banks expect CBE to keep current rates unchanged
Private industrial sector accounted for 62.4% of credit facilities granted by banks to non-government economic sectors at the end of March 2017: CBE
The industrial sector accounted for 36.5% of the total credit facilities granted by banks; services for 28.5%; trade for 10.5%; and agriculture for 1.1%
Egypt’s top 5 banks accounted for 77.7% of total profits of banks operating in Egyptian market by end of March 2017: CBE
Total profits amounted to EGP 30.516bn at the end of first quarter of 2017, top 10 banks mark profits of EGP 26.234bn
Nonperforming loans drop to 5.7% of total loans at banks by March end: CBE
Ratio of loans to deposits in local currency rose to 40.2%, ratio of loans to deposits in foreign currencies fell to 62.8% in March
Banque Misr arranges loans worth EGP 55.1bn in 2016
The bank won the “Best Africa Project Finance House” award for 2016 from EMEA Finance
United Bank signs MoU with EBRD to support SMEs
The rehabilitation of local SMEs for global competition is the real hope to maximise domestic output, says Kashmiri
Lifting foreign exchange transfer constraints is a new message from CBE that Egypt overcame foreign currency crisis: experts
The decision boosts confidence in the Egyptian economy, contributes to attracting more foreign investment flows, Egyptians’ savings abroad, says Amer
CBE reveals foreign exchange status after flotation
$8bn in remittances from Egyptian expats from November 2016 until the end of March 2017
CBE likely to maintain current tight monetary stance to reduce inflationary pressures: IIF
Annual inflation rate to decline gradually to 18% by end of 2017, from about 30% in May
Central Bank of Egypt removes foreign currency transfer limits
The move could spur foreign investments to Egypt, says Tarek Amer
Afreximbank signs loan to Banque Misr worth $200m next week
The African Export-Import Bank’s (Afreximbank) board of directors approved granting a loan to Banque Misr worth $200m. Banque Misr is the second government bank to receive a loan from Afreximbank this year. The National Bank of Egypt (NBE) announced receiving $300m from Afreximbank in April. Akef El Maghraby, vice chairperson of Banque Misr, told Daily …
Banknote issuance to GDP increases to 12.68% in February: CBE
CBE issued banknotes of EGP 411.559bn in February, compared to EGP 405.416bn in January
Egypt is staying the course: Deutsche Bank
Egyptian authorities reached staff-level agreement with IMF on first review under $12bn EEF, says the Deutsche Bank Markets Research
SMEs Development Authority signs 6 micro finance projects in 5 governorates
Contracts benefit 1,300 people from Cairo, Minya, Qena, Menoufia and Sohag: Gamea
CBE, EFSA sign agreement to enhance financial inclusion in Egypt
Sharm El-Sheikh will host an international conference on financial inclusion on 17 September
Banque du Caire marks profits of EGP 3.3bn in 2016, up 18% from 2015: chairperson
Bank’s profits are operating profits resulting from the expansion of all banking activities: El Zahid
Arab Investment Bank aims to boost SME portfolio to EGP 12.3bn by end 2018: chairperson
Bank achieved 70% growth in profits, 85% increase in deposits, and 67% increase in loans by the end of 2016: Seif El Nasr
Deposits in QNB are Safe: Amer
Cutting diplomatic relations with Qatar has no effect on bank’s activities in Egypt: QNB
CBE completes electronic linking system with COMESA banks
The project is a new positive step towards supporting Egyptian economic relations with African countries, says CBE governor
UBE offers integrated system for financing journalists, launches Tahya Misr investment certificates
The bank signs a cooperation protocol with the Press Syndicate to offer loans with an allowance of training, technology, and participating in the syndicate’s social activities The United Bank (UBE) signed a cooperation protocol with the Press Syndicate last week with the aim of offering an integrated financing system for journalists and media organisations. According …
Egyptian Agricultural Bank launches initiative to finance livestock wealth project
We aim to finance the purchasing of one million livestock and establish small projects within the CBE’s initative, says El Kosayer
Government launches treasury bonds and bills for EGP 105.25bn in June
Launching 16 bills for terms of 91-364 days for EGP 99bn, 8 bonds for terms of 3-10 years for EGP 6.25bn