12 banks in Egypt report EGP 6.495bn net profits during Q1 2021
CIB accounts for 44.27% of 12-bank profits, whilst HDB ranks second with net profit of EGP 620m
Hossam Mounir
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Banque du Caire reports EGP 1bn in net profit in Q1 2021
Bank continues positive business results supported by ambitious plans, strategies it was keen to implement for over 3 years, says Tarek Fayed
Egypt finances 644k small, micro enterprises for women in 7 years
Egypt’s MSMEDA signs MoU with Arab Women Investors Union to support women’s projects
Egypt’s interest rates expected to remain unchanged for 5th consecutive CBE meeting
Urban inflation may rise gradually from 4.1% on an annual basis in April, to about 5.5% in September, says Radwa El-Swaify
Egypt exports decrease 6.4% to $28bn in 2020: CAPMAS
GAFTA receives majority of Egypt’s exports, with value of $9.8bn in 2020 compared to $10.1bn in 2019
ADIB-Egypt forms tri-party cooperation to launch pre-paid ‘Khazna Meeza’ card
New card will extend mobile financial services to underserved, unbanked segments of Egyptian society
Egypt’s annual urban inflation rises to 4.8% in May 2021: CBE
Annual headline inflation accelerated in May, mostly driven by higher annual contribution of volatile food items
Qalaa Holding chief Ahmed Heikal banned from travel due to commercial dispute
Heikal was involved in commercial dispute relating to cheque worth $4m
Egypt’s SMEs Development Agency, Banque Misr sign EGP 500m micro-enterprises finance
10,000 micro-loans will be provided across Egypt, with maximum of EGP 250,000 per loan
31.3% of Egypt’s 2022 budget goes to economic development: Finance Minister
Egypt’s Minister of Finance Mohamed Maait has confirmed that31.3% of the country’s programme and performance budget allocations for fiscal year (FY) 2021/22 have been allocated to achieving economic development. This will also go towards raising the efficiency of government performance. Meanwhile, 30.6% of the next budget allocations were allocated to projects improving citizen living standards, and 27.3% for building Egypt’s human capital. Maait said that that there …
Egyptian government, banking sector take strong action to support MSMEs
National Bank of Egypt receives $100m from European Investment Bank to support SMEs
Afreximbank equips Banque du Caire with $200m intra-African finance
Facility is designed to finance Banque du Caire’s expansion across Africa
Egypt’s urban inflation rises to 4.8% in May 2021, compared to 4.1% in April: CAPMAS
General consumer price index across country reached 112.9 points in May 2021
EJB partnered with previous governments to contribute to several economic plans: Mohieldin
Economic policies should be flexible with need to mobilise labour towards growing sectors, expand social safety nets, says Mohieldin
Egyptian remittances increase 8.5% to $23.4bn within 9 months: CBE
11% annual increase in remittances during March 2021 only
Egyptians present 13.1% of patents granted in Egypt during 2020
Total of 1,229 applications were made by foreigners, reflecting rate of 55.7%
Egypt’s SMEs Development Agency, Banque du Caire sign EGP 500m microfinance agreement
Contract allows for limit of loans provided to micro-projects to be raised to EGP 500,000 each
Central Bank of Egypt receives 24 bids worth $540.6m for T-bills in US dollars
Proceeds of this tender will be used to pay for previous tender launched by CBE on 9 June 2020, for which it obtained $509.3m
Financial position of banks in Egypt increases to EGP 7.55trn in March 2021: CBE
Net foreign assets at banking system rise by EGP 155.3bn in 9 months
Egypt’s gold reserves climb $281m in May: CBE
Net international reserves increase to $40.468bn in May
Bank Audi Egypt CEO steps down, Bank ABC chief to leave within days
Sources indicated that Bedir is currently choosing between several offers from other banks operating in the Egyptian market, with his new position to be announced at a later time.
Egypt sees 12.25% increase in manufacturing, extractive index in March 2021: CAPMAS
Decrease was seen in economic activities among computer, electronic, and optical products, which reached 105.90 during March 2021
Egyptian banking sector reports net foreign assets of $17.382bn in April 2021
Foreign currency deposits rose by $1bn in April
Egypt sees 33.8% increase in petroleum exports value in Q1 2021: CAPMAS
This compared to the $1.359bn recorded in the same quarter of the previous year.
Egypt to offer T-bills, bonds worth EGP 247bn in June: Finance Ministry
20 bids for T-bills worth EGP 178bn, 13 bids for bonds worth EGP 69bn to be offered
17.7% of Egyptians are smokers: CAPMAS
Percentage of smokers among males is 35.6%, compared to 0.3% among females
Egypt’s SMEs development agency permits clients to pay loan instalments online
These companies include Waqty, Amwal, and Tal2a, with payments possible through more than 15,000 service outlets available across the country belonging to these companies.
Agricultural Bank of Egypt’s loan portfolio reaches EGP 46.37bn in April: Chairperson
Deposits up EGP 15bn from March 2020 through April 2021
Egypt’s MSMEDA, Agriculture Ministry sign MoU to support small farmer projects
The MoU’s signing was witnessed by Minister of Trade and Industry and MSMEDA CEO Nevine Gamea and Minister of Agriculture and Land Reclamation Elsayed Elkosayer.
CIB net income rises 20% to record EGP 2.87bn in Q1 2021
Bank started 2021 on positive year following year marked by exceptional challenges and uncertainties, management said