Banque Misr collects EGP 400m through certificates on first day
They surprised banking market with launch of two certificates with annual returns of 12.5%
Hossam Mounir
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Latest by Hossam Mounir
UNB-Egypt aims to acquire 5% of Egyptian banking market in 10 years: Vice Chairman
UNB supports Emirati investors in Egypt, and issued letters of guarantee worth $150m for the National Drilling Company to dig the New Suez Canal
Banque Misr, NBE issue savings certificates with 12.5% return
The step aims at combating dollarisation, and banks issued two similar certificates in 2004, says Analyst
AAIB underwent significant expansions: Bank leaders
Bank launches14 new branches, number of ATMs increases to 321
Foreign exchange reserves increase $80m in October: CBE
Foreign exchange reserves at the Central Bank of Egypt (CBE) increased by $80m during October, to reach $16.415bn from $16.335bn in September, according to a CBE statement on Wednesday.
400 private, government sector representatives to discuss financial leasing legislation
Partnership Development conference seeks to integrate financial leasing in economic development plans
Only 2% of total individual payments paid electronically in Egypt
Electronic individual payments can increase by 20% in seven years if supported by government, says Regional Manager of Visa
Banque du Caire increases branches, banking units to 231
Bank opened six new branches and banking units, plans to expand in about eight governorates
Total deposits growth rate in banks reached 18.88% in August: CBE
EGP 29.5bn increase in deposits, EGP 10.7bn increase in bank loans during August: CBE
Banque Misr tops social media popularity list on Facebook and YouTube
The bank was also ranked the first on the list of popular official pages on Facebook, where the number of fans of the Banque Misr official page exceeded one million.
Amer meets with banking leaders in preparation for CBE position
New governor holds meetings with bank leaders and representatives of various economic sectors
Tarek Amer holds consultations to form CBE’s board
The head of a public bank is expected to serve as a deputy governor
Amer’s most prominent challenge is employing liquidity in local currency at banks
Banks offered to invest EGP 252bn in CBE deposits for one day and employ dozens of billions in corridor
Fake Facebook pages nuisance for Amer before officially takes office
Amer closed his personal account on Facebook on 17 October and denies any connection to fake pages
CBE keeps interest on EGP in latest meeting of MPC in Ramez’s time
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) decided on Thursday evening to keep basic return prices at the latter during the last meeting when previous CBE governor Hisham Ramez resigned. Basic return prices at CBE are used to determine the interest rates on the Egyptian pound in deposit, lending, and …
ADIB-Egypt to continue activities despite losses exceeding 50%
The result of ADIB’s operation revealed that it achieved a net profit, before taxes, during the first half of 2015, amounting to EGP 336.2M, an increase of 43% from the first half of 2014.
CBE will discuss future of interest rate on EGP
According to analysts, MPC is highly expected to keep the major interest rates at CBE unchanged for the sixth consecutive time during its meeting decided set for Thursday.
Forex suspended in anticipation of new CBE governor’s decisions
Black market records EGP 8.30 for dollar, while banks maintain it at EGP 8.03
SFD, EFCBC to participate in Partnership for Development’s Leasing Event
Conference organised by Excellent Communications in cooperation with EFSA
EBI signs cooperation protocol with Visa to promote financial awareness
The project of promoting financial awareness for the payrolls programme, conducted by Visa in cooperation with EBI, comes as support and to assert on that governmental orientation
Construction sector anticipates solutions with new CBE governor
The construction sector is anticipating the arrival of vital solutions with the appointment of Tarek Amer as the governor of Central Bank of Egypt (CBE), according to Daker Abdellah, member of Egyptian Businessmen’s Association and Egyptian Federation for Construction and Building Contractors (EFCBC). Amer’s experience and knowledge of all problems facing the economy in various …
EGP 20.89bn in net profit in Egyptian market in June: CBE
Report shows results of different local and international operations throughout banks
Credit cards increase to 2.575 million by end of June: CBE
16.242m debit cards issued by banks operating in Egyptian market until mid-2015 and 7,855 ATM serving customers
Amer: CBE’s 13th governor
The Central Bank law No. 88 for 2003 provides in article 10 that the governor is appointed by a presidential decree on the nomination of the Prime Minister for a period of 4 years, subject to renewal.
New CBE governor must balance between inflation, exchange rate, interest rates: Expert
The Egyptian pound will not rise because of a new governor, says Abdel Aal
Ramez decisions until 26 November are legally sound: Riyad
According to Rokaya Riyad, Chief Legal Sector of the Federation of Egyptian Banks (FEB), all the decisions and actions Ramez will take until his tenure expires on 26 November will be 100% legal.
Banking sector speculates over Ramez’s next step after CBE resignation
Ramez will head the AIB instead of Gamal Negm who will supposedly retire, according to sources
Non-performing loans fell to 7.6% by end of June: CBE
CBE issued an important Financial Soundness Indicators report; loans to deposits ratio boosted to 41.4%
Will Amer change Ramez’s monetary policy and exchange market management?
Analysts expect the new governor to amend some of Ramez’s decisions
I requested to leave CBE 3 months ago: Ramez
Former governor of the Central Bank of Egypt (CBE) Hisham Ramez said he had requested to depart from his position at the CBE and end his tenure three months ago.