Latest in Highlight
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Nine private banks in Egypt gain EGP 14.941bn net profits in 1H2019
CIB – Egypt tops the list by EGP 5.355bn profits, QNB Alahli comes second by EGP 4.217bn
Banks operating in Egypt celebrate International Youth Day
New accounts opened free of charge, special offers made on 1-15 August
Banks’ credit facilities see EGP 242.6bn rise in 10 months: CBE
Deposits up by EGP 1bn only as non-governmental deposits drop
CBE launches service for instant bank account inquiry of deceased customers
Bank signs agreement to discuss situation of vehicles purchased by credit facilities
CBE confirms strength of banks’ financial positions by end of 1st quarter of this year
The CBE noted that banks secured provisions of 98% of total NPLs at the end of March 2019. The ratio reached 100% at the 10 and five largest banks.
Banks operating in Egypt post net profit of EGP 39.29bn end-March
Top 5 banks denominate 74.48% of profits, top 10 account for EGP 33.32bn of profits, says CBE
Banks’ credit facilities see EGP 226.6bn rise end of March, deposits up to EGP 3.930tn: CBE
Private enterprise sector denominates 60.8% of total facilities, with industry in lead, according to CBE
Egyptian banks to record strong loan growth, EGP to stabilise: Fitch Solutions
Haftar’s Tripoli offensive could spiral out of control, yet fiscal deficit expected to narrow
Banks’ credit facilities see EGP 206.7bn increase in last 8 months: CBE
Private enterprise sector denominates 60.8% of total facilities, with industry in lead
Microfinance portfolio in banks reaches EGP 6.94bn in Q1 of 2019
NGOs rank first in terms of number of beneficiaries
Orascom to repay EGP 900m to banks this year
Value of cheque receipts on customers estimated at EGP 5.3bn, says Bichara
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
Moody’s upgrades five Egyptian banks, outlook changed to stable
Moody’s Investors Service (Moody’s) upgraded on Tuesday, the long-term local-currency deposit ratings of the National Bank of Egypt SAE (NBE), Banque Misr SAE (BM), and Banque Du Caire SAE (BdC) and the Commercial International Bank (Egypt) SAE (CIB) to B2 from B3, and their long-term foreign currency deposit ratings to B3 from Caa1. Furthermore, the …
Attijariwafa Bank Egypt to be amongst biggest 10 banks in local market end-2022: Managing Director
We are taking concrete steps toward achieving bank’s expansion strategy, and are proud of our progress in Egyptian market, says Sakr
Three Egyptian banks among 500 best banking brands in world
List includes NBE, Banque Misr, CIB – Egypt
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
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
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%
Offering banks’ stakes will be crossroad for IPOs: financial analyst
Implementation of IPO’s first phase is positive message indicating that state is serious, says Ehab Saeed
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
EPG 489.138bn increase in banks’ deposits in 2018: CBE
Government’s deposits hit EGP 391.7bn, family sector deposited 66% of them
For first time, CBE instructs banks to protect clients’ rights
Instructions have been in effect since 13 February, banks were given one-year period to adjust their situations
Banks to discuss fate of deposit, lending interests this week following CBE rate cut
NBE, Banque Misr to keep interests of fixed-rate saving certificates stable, cut those of variable-rate certificates by 1%
Egyptian banks increase their SME credit by EGP 136bn in 3 years
Egyptian banks increased their SMEs credit by EGP 136bn from end-2015 till end-2018, benefiting about 522,000 foundations, Gamal Negm, deputy governor of the Central Bank of Egypt (CBE), said on Tuesday. The banking sector allocated 65% of its loans to the private sector, Negm said before an IMF conference on its paper about Financial Inclusion …
Global Lease negotiates with four banks to fund new projects worth EGP 500m
Discussions with FMO to borrow $10m, a factoring company to be launched mid-March
When will agricultural sector receive appropriate share of funds from banks?
Government received 28.105% of loans, industry 24.627%, services 25.957%, retail 17.286%, trade 7.627%
Planned cybersecurity centre will monitor any digital fraud in banks
The Head of Payment Systems at the Central Bank of Egypt (CBE), Ehab Nasr, said the CBE works within a large team in the government regarding digital transformation under the umbrella of the National Council of Payments. “The bank works within a general framework to produce a national payment card ‘Meza card’. We aim to …
Banks move toward digitisation, fintech
NBE launches first e-service branch; Banque du Caire to introduce first smart branch