Latest in Banking Highlight
Latest in Banking
Resignations, leadership reshuffle in banks operating in Egypt
More changes expected over upcoming period as new Banks Law gets issued
Banks operating in Egypt are strong, safe: CBE
NPLs down to 3.9% of total loans by end-2018
CIB Egypt signs cooperation protocol with ‘Business Women of Egypt 21’
Protocol comes within bank’s efforts to support members of BWE21
Suez Canal Bank increases branch network by 2 branches to 43
Bank aims to reach out to new customer segments, says bank’s chairperson
Tamweely negotiates with 4 banks for supplementary financing of EGP 400m
Company injects EGP 700m of micro loans to 40,000 clients through 38 branches in 11 governorates
Banking alliance arranges EGP 3.1bn worth joint loan for Samcrete Egypt
Coalition includes NBE, Banque Misr, Banque du Caire, SAIB, EDBE, Suez Canal Bank
Banque du Caire’s NIAT jumps 200% to EGP 2.5bn end-2018
Last year was turning point in bank’s performance, says bank’s chairperson
Volume of retail banking portfolio in NBE reaches EGP 63.3bn at end-February
Asian Banker awards NBE ‘Best Retail Bank’ in 2019
Banks supported their capital by EGP 9.69bn in 2018: CBE
Value of financial position of Egyptian banking sector’s units increases by EGP 619.3bn
Banks’ net profits increase to EGP 70.2bn by end-2018
Ten biggest banks account for 63.9% of sector’s total profits, while 5 largest banks account for 48.2%
Egyptian market expects another interest rate cut on Thursday
Several factors favour cut, others weigh on fixing, final decision is in hands of MPC, say analysts
NBE extends working hours at 64 branches for tax e-payment services
The National Bank of Egypt (NBE) decided to extend its working hours at 64 branches until 6:00 pm to provide electronic tax payment services in the periods between 24-31 March and between 22-30 April. The NBE will limit its services after normal working hours to tax payment services in order to achieve a successful tax …
US dollar records lowest level against Egyptian pound since March 2017
Pound value against dollar gains over 23 piasters in March, 62 piasters since January
Faisal Islamic Bank of Egypt purchases new office in Smart Village
Faisal Islamic Bank of Egypt has bought a new office with an area of 300 sqm in Smart Village – a high-technology business district in the city of Sixth of October – from the Smart Village Real Estate Investment Company (SVREICO) for EGP 16m. The new office is expected to be delivered this month. SVREICO …
EGP 735.59bn bank investments in T-bills by end-December 2018: CBE
Banks supported their securities portfolio with EGP 202.23bn in 2018
Nine private, foreign banks in Egypt gain net profits of EGP 25.80bn in 2018
Five banks only earn billions in net profits, other banks acquired under EGP 1bn each
NBE allocates EGP 123m to legalise situation of Shaq El Teaban investors
Bank studies 300 applications seeking to obtain facilities
CBE governor calls for enhancing independence of central banks in Africa
During meeting of Association of African Central Banks in Dakar
Banque du Caire opens regional office in UAE for Gulf customers
Enhancing bank’s existence abroad one of our top priorities, says Fayed
CBE, AFI co-organise working group meetings in Cairo
The Central Bank of Egypt (CBE) and the Alliance for Financial Inclusion (AFI) launched jointly a series of key working group meetings in Cairo on Monday 11 March. This is the second event co-organised by the two institutions. Deputy Governor of the CBE, Lobna Helal, and Deputy Executive Director of the AFI, Norbert Mumba inaugurated …
CBE, government welcome parliament’s approval of E-Payment Law: CBE’s deputy governor
The Central Bank of Egypt (CBE) welcomed the parliament’s approval of the E-Payment Law which will regulate non-cash payments, the Deputy Governor of CBE, Lobna Helal, said on Tuesday. She explained that one of the goals of the new law is to enable the Egyptian society to turn into a digital one. She pointed out …
Annual inflation rates increase 1.7% to reach 13.9% in February 2019: CAPMAS
Vegetables, poultry, milk, cheese, eggs push monthly inflation to 1.8% in February compared to 0.8% in
January
Banks start issuing free e-wallets on International Women’s Day, Arab Financial Inclusion Day
CBE aims to encourage more people to join official banking system, says Elkosayer
US dollar hits its lowest in two years
US currency lost 8.11 piasters last week, losing 49 piasters since January 2019
Fate of inked banknotes remains vague
Rumours of banning banknotes with handwritings on them, banks deny, CBE silent
CBE imposes sanctions on 28 currency exchange companies in 2018
Procedure came as result of violations to CBE’s regulations, conditions
Attijariwafa Bank, Global Lease sign SME support protocol
Attijariwafa Bank Egypt and Global Lease Company have signed a joint protocol to support the small and medium-sized enterprises (SMEs), through financing the capital expansions and providing financial leasing services. Under this protocol, Attijariwafa Bank will focus on regulating, financing, and collecting the agreed instalments, while Global Lease will act as the lessor and collateral …
CBE approves issuing EGP 870.3m worth ‘Aman’ certificates
NBE, Banque Misr, Banque du Caire, ABE started offering certificates in March 2018
$1.44bn increase in foreign reserves to $44.06bn end-February: CBE
The foreign exchange reserves at the CBE have increased by $1.44bn by the end of February 2019, reaching $44.06bn, compared to $42.617bn by end of January 2019. The foreign exchange reserves recorded an all-time high by the end of November 2019, when they reached $44.51bn. The CBE has not revealed the reason behind the increase …
EPG 489.138bn increase in banks’ deposits in 2018: CBE
Government’s deposits hit EGP 391.7bn, family sector deposited 66% of them