Banking

The latest banking stories from Egypt and across the globe, by the Daily News Egypt banking team, including global insight and commentary on the top issues concerning this sector.
Latest Banking News

New Banking Law requires 25 banks, 4 foreign branches to raise capital

Banks such as IDB, ABE, ELAB,  EBE do not fall under the…

Daily News Egypt

IDB posts EGP 281m in net profits end 2018

Bank's financial position rose to EGP 24bn from EGP 19.7bn in 2017,…

Hossam Mounir

US dollar loses over EGP 1 of its value since start of year

Expectations for US dollar to reach EGP 16.5

Hossam Mounir

UNB Egypt boasts 83% increase in profits in Q1 2019

Bank aims to increase growth rates in coming period due to its…

Daily News Egypt

Egypt’s foreign trade reaches $47.8bn in second half of 2018: CBE

Fourteen countries account for 60.62% of Egypt’s foreign trade volume, led by…

Hossam Mounir

Banking law amendments for capital requirements could trigger profit retention, M&As: Pharos

Pharos believes that the capital increase could trigger a wave of porfit…

Daily News Egypt

Microfinance portfolio in banks reaches EGP 6.94bn in Q1 of 2019

NGOs rank first in terms of number of beneficiaries

Hossam Mounir

Banking draft law will not impose term limits on state-owned banks’ board members: source

The source explained, in a statement to the Middle East News Agency,…

Daily News Egypt

Pundits expect CBE to hold interest rates unchanged on Thursday

April's inflation slowdown is temporary, may pick up again by end-May: analysts,…

Hossam Mounir