Banks in Egypt see EGP 50.921bn increase in net foreign assets in February 2021: CBE
Proceeds of saving certificates, deposits in local currency rise by EGP 76.77bn in one month
Hossam Mounir
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CBE, Supply Ministry sign finance agreement to develop bakeries through banks
Agreement comes as part of Presidential directives to maximise use of Egypt’s natural resources, expand use of clean energy
Egypt sees 17.9% decrease in trade balance in January 2021
Noting in its Monthly Bulletin of “Foreign Trade Data” for January 2021, CAPMAS also said that Egypt’s deficit value of trade balance reached $3.15bn during the month, versus $3.85bn for the same month of previous year.
Egyptian Government eyes borrowing EGP 642.5bn from local market in Q2 2021
Finance Ministry issues 52 tenders for T-bills worth EGP 462bn, 35 bids for bonds worth EGP 180.5bn from April to June end
Banque du Caire reports EGP 3.2bn net profit in 2020
Bank overcame challenges of 2020, banking sector one of strongest sectors supporting national economy, says Tarek Fayed
NBE provides services to clients at New Administrative Capital through mobile unit
Bank is keen to increase financial inclusion among Egypt’s youth, one of country’s most important segments that NBE seeks to include
HSBC, Reefy sign EGP 150m revolving facility for Egyptian women-led MSMEs
Agreement supports CBE aim to raise microbusinesses, SME sector contribution to formal economy, women empowerment
Tamweely Microfinance continues strong performance as portfolio exceeds EGP 1.07bn
Company’s net profit increases 75% to EGP 51.5m in 2020, compared to EGP 29m in 2019, says Chairperson
CBE to provide ABE additional EGP 1bn to finance livestock project
Approval from CBE raises lending portfolio for this project to EGP 3bn, says ABE Chairperson Alaa Farouk
Egypt’s Sovereign Fund commits EGP 250m to EFG Hermes Education Fund’s third close
TSFE, GEMS Egypt also sign MoU to develop, operate 2 premium national schools in west Cairo
Egypt ranks world’s 6th largest remittance recipient by $24.4bn in 2020: CAPMAS
Marriage is main reason behind migration from urban to rural, vice versa for females, reaching 49.2% and 48.2%, respectively in 2017
Central Bank of Egypt renews warnings against cryptocurrency
Bank calls upon dealers in Egyptian market to be very careful, not to engage in high-risk informal currencies
Egyptian employees financially affected by COVID-19 down to 26.9% in Q4 2020: CAPMAS
Household consumption of medical devices increases to 93%
Agricultural Bank of Egypt expands ‘Bab Rizq’ microfinance programme to 150 branches
Programme aims to increase income, improve livelihoods in rural areas, achieve financial inclusion for female breadwinners, says Alaa Farouk
Central Bank of Egypt directs for simplified bank account opening procedures
Facilities will be provided for small companies to open accounts
Banks in Egypt see EGP 2.448trn credit facilities in November 2020: CBE
Total bank deposits rose to EGP 5.126trn in November 2020, compared to EGP 5.088trn in October 2020
Egypt injects EGP 9.1bn to fund women’s SMEs in almost 6 years
Country provides 623,500 loans for small, micro projects from July 2014 to late 2020
EGP 1.166trn increase in financial position of banks in Egypt during 2020: CBE
Banks report EGP 325.761bn reserves, EGP 162.274bn provisions to nonperforming loans
CBE to announce details of new presidential mortgage finance initiative soon
Proposed mortgage finance initiative to boost real estate sales
CBE allocates EGP 1.2bn to finance unpaid natural gas bills of ceramic companies
Allocation comes as part of industrial private sector initiative
Egypt sees remittances grow to $29.6bn in 2020: CBE
Increase of $529.2m in such transfers recorded from October to December 2020
CBE reveals developments in commodity prices during February 2021
Annual food inflation remained broadly stable at -0.5% for second consecutive month
Financial position of banks in Egypt approaches EGP 7trn in October 2020: CBE
Banks’ total capital reaches EGP 174.592bn, reserves EGP 314.082bn, provisions to nonperforming loans record EGP 154.853bn
AAIB lends Libra Capital EGP 200m to finance renewable energy purchase agreements
Agreements cover design, financing, installation, and operation of solar energy stations
Egypt launches foreign exchange trading with instant settlement system on 22 March
New system shortens time frame to execute payments in foreign currencies between banks in Egypt, reduces costs
National Bank of Egypt launches new fintech platform
NBE’s Tamkeen for microfinance acquires 75% of e-payment company Momken
Egypt’s foreign debt rises to $125.3bn in September 2020: CBE
Net foreign assets increase by EGP 125.9bn within four months
MID Bank launches new brand in Egyptian market
Bank boasts integrated strategy to develop various business sectors, grow and support financial position, whilst maximising profits, says Amr El-Garhy
Banque du Caire to launch e-payment firm in support of digital transformation, financial inclusion: Chairperson
Bank has come long way in digital transformation, becoming top priority since implementing Integrated Development Strategy in 2018
Egypt’s net international reserves increase to $40.2bn in February: CBE
FX reserves increase by about $363m to $35.905bn in February